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Dolat Capital Report
Majesco Ltd. has divested its operating business listed in U.S. during the quarter effective date - September 21, 2020 (received proceeds of Rs 38 billion and paid Rs 7 billion in capital gains), and thus published just financials for India holding entity and added the profits from discontinued operations at Rs 345 million (better than estimates).
Timelines on closing the transactions are broadly as planned and thus company also announced its approval buyback and also plans to do the dividend payout by December 2020.
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