A Day After Announcing 19,480% Dividend, Majesco Shares Decline. On Tuesday, shares of Majesco declined as investors chose to sell, rather than be taxed for dividend income. The stock was down by half a percent a day after the company announced an interim dividend of Rs 974 per share for the financial year 2020-21.
Why did Majesco share fall?
The main reason for this is because the insurance technology firm had sold one of its business units– Majesco US- to Thoma Bravo, a private equity firm. The sale proceeds after accounting for expenses and capital gains tax had been Rs 3,853.3 crore!
Is it good to buy Majesco shares now?
Good news, investors! Majesco is still a bargain right now according to my price multiple model, which compares the company’s price-to-earnings ratio to the industry average. … Majesco’s share price also seems relatively stable compared to the rest of the market, as indicated by its low beta.
Is Majesco going to delist?
Majesco Ltd is listed in NSE/BSE (India) and NASDAQ (US). … This price was at a 70% premium to the prevailing price at NASDAQ. After the deal, the US arm becomes a private company (delisted).
Why Majesco is giving huge dividend Quora?
What is the reason behind the very high dividend in Majesco? – Quora. After the company was split, there is no business left fin Majesco of their own. They have good reserve of cash from past years and good investment and cash balance.
Which share is best to buy now?
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Who bought Majesco?
Aurum Ventures Pvt. Ltd has signed a pact to buy out Mumbai-listed Majesco Ltd’s controlling shareholders, eight months after Chicago-based private equity firm Thoma Bravo acquired the Indian company’s main US business.
How much dividend is Majesco giving?
For the year ending March 2021 Majesco has declared an equity dividend of 19480.00% amounting to Rs 974 per share. At the current share price of Rs 81.80 this results in a dividend yield of 1190.71%. The company has a good dividend track report and has consistently declared dividends for the last 5 years.
Is Majesco closing business?
Following the closing of the transaction, Majesco will operate as a privately-held company,” the company said in a press release. Majesco US has decided to sell its company to a private equity, Thoma Bravo, LP at $13.1/share, valuing the company at $594 million (Rs 4,455 crore).
What will be the price of Majesco after dividend payout?
Majesco rose 2.71% at Rs 999.95 after the company said its board declared an interim dividend of Rs 974 per share for the financial year 2020-21. Based on the ruling market price, the dividend yield works out to 102.66%.