Majesco's stocks had a strong listing on the exchanges today

Majesco Ltd., an Insurance software unit of Mastek Ltd., had a strong listing on the exchanges today as investors latched on to the company which sees its sales doubling over the next 3 years.

Majesco, which provides software for property, casualty, life and property lines of insurance businesses, said its revenue will grow at a pace of 24-28 percent each year till FY 2018 on the back of higher demand for its services. Shareholders of Mastek got free shares of Majesco.

Majesco rose 15.80 rupees, or 5 percent, to 331.80 rupees on the National Stock Exchange, where 2.04 lakh shares were traded in the first 30 minutes of trade. Majesco expects is Operating margin to double to 11-12 percent from 5 percent now over the next three years.

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