MASTEK

June 24 (Reuters) - Mastek Ltd MAST.NS:

• MASTEK LTD - RAGHAVENDRA JHA RESIGNS AS CFO OF MASTEK

Source text: ID:nBSEYQm3W

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June 19 (Reuters) - Mastek Ltd MAST.NS:

• LAUNCHES ADOPT.AI FOR ENTERPRISE AI ADOPTION

Source text: ID:nBSE7FJ3SN

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June 16 (Reuters) - Mastek Ltd MAST.NS:

• AWARDED NHS ENGLAND CONTRACT

Source text: [ID:]

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May 8 (Reuters) - Mastek Ltd MAST.NS:

• PARTNERS WITH ZULEKHA HEALTHCARE FOR DIGITAL TRANSFORMATION

Source text: ID:nBSE9W1lyx

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April 18 (Reuters) - Mastek Ltd MAST.NS:

• RECOMMENDS FINAL DIVIDEND OF 16 RUPEES PER SHARE

• MARCH-QUARTER CONSOL NET PROFIT 810.7 MILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 9.05 BILLION RUPEES

Source text: ID:nBSE3LTMrR

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March 6 (Reuters) - Mastek Ltd MAST.NS:

• NAMED SUPPLIER ON UK CROWN COMMERCIAL SERVICE'S DCFH 2 FRAMEWORK

• DCFH 2 FRAMEWORK TO OPERATE FOR THREE YEARS WITH ONE-YEAR EXTENSION OPTION

Source text: ID:nBSEbVKpst

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Feb 28 (Reuters) - Mastek Ltd MAST.NS:

• RECEIPT OF ADMINISTRATIVE WARNING LETTER ISSUED BY SECURITIES AND EXCHANGE BOARD OF INDIA

Source text: ID:nBSE3RmT7C

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** Mastek MAST.NS rises as much as 4.4% to 2,465 rupees

** IT services co secures multiple contracts worth ~$85 mln from the UK public service department

** More than 72,000 shares traded, near their 30-day moving avg

** Stock rated "buy" on avg; median PT is 3,410 rupees - LSEG

** MAST last up 0.6%, cutting YTD losses to 20.7%

(Reporting by Meenakshi Maidas in Bengaluru)

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Feb 26 (Reuters) - Mastek Ltd MAST.NS:

• MASTEK LTD - SECURES CONTRACTS WORTH $85 MILLION OVER 2 YEARS

Source text: ID:nBSE6vZCMp

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Feb 10 (Reuters) - Mastek Ltd MAST.NS:

• ANNOUNCES STRATEGIC PARTNERSHIP WITH OPENANA

• PARTNERSHIP TO ENHANCE GENERATIVE AI CAPABILITIES

Source text: ID:nBSE2YvMCW

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Jan 16 (Reuters) - Mastek Ltd MAST.NS:

• DIVIDEND OF 7 RUPEES PER SHARE

• DEC-QUARTER CONSOL PAT 947.1 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 8.7 BILLION RUPEES

• APPOINTS UMANG NAHATA AS CEO-MASTEK GROUP FOR 3-YEAR TERM EFFECTIVE JAN 16, 2025

• APPROVES INCREASE OF CORPORATE GUARANTEE FOR MASTEK ARABIA TO $6.6 MILLION

Source text: ID:nBSE1W09JY

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Dec 4 (Reuters) - Mastek Ltd MAST.NS:

• GLOBAL CHIEF FINANCIAL OFFICER ARUN AGARWAL RESIGNS

Source text: ID:nBSE1DdB1k

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Oct 21 (Reuters) - Mastek Ltd MAST.NS:

• PARTNERS WITH INNOVACCER TO TRANSFORM VALUE-BASED CARE AND IMPROVE PATIENT EXPERIENCE

Source text for Eikon: ID:nBSE8t20Bk

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Oct 18 (Reuters) - Mastek Ltd MAST.NS:

• SEPT-QUARTER CONSOL NET PROFIT 1.29 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 8.67 BILLION RUPEES

Source text for Eikon: ID:nBSEJQQth

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Sept 26 (Reuters) - Mastek Ltd MAST.NS:

• NAMES UMANG NAHATA AS GLOBAL CEO - MASTEK GROUP

• APPROVED SCHEME OF ARRANGEMENT WITH UNIT MASTEK ENTERPRISE SOLUTIONS

Source text for Eikon: ID:nBSEVvXx7

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Aug 28 (Reuters) - Mastek Ltd MAST.NS:

• ANNOUNCES STRATEGIC PARTNERSHIP WITH ONYX HEALTH

Source text for Eikon: ID:nBSEMcQ4S

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(Reporting by VijayDattaram Malkar)

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July 18 (Reuters) - Mastek Ltd MAST.NS:

• JUNE-QUARTER CONSOL NET PROFIT 715 MILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 8.13 BILLION RUPEES

Source text for Eikon: ID:nNSE12DJCg

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June 6 (Reuters) - Mastek Ltd MAST.NS:

• ANNOUNCED IT IS ADVANCING ITS ICXPRO PLATFORM WITH NVIDIA ACCELERATED COMPUTING

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** Shares of IT services company Mastek MAST.NS up as much as 6.6% to 2,825.50 rupees

** However, MAST surrenders most gains, last up ~1.4%

** Co says it won multi-tower deal from Saudi Arabia's Yanbu Cement Company to optimize its production line

** It, however, did not disclose financial details of the deal

** Avg recommendation of 5 analysts is a "buy", median PT is 3,000 rupees - LSEG data

** Stock down 4.4% YTD vs Nifty 500 index's .NIFTY500 6.3% rise

(Reporting by Rama Venkat in Bengaluru)

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** Shares of Mastek MAST.NS jump ~13%, on pace for best day in nearly 3 years, amidst heavy trading

** Mastek named supplier in UK defence ministry's Digital and IT Professional Services (DIPS) framework, with budget of 1.2 bln pounds ($1.50 bln) over 4 years

** ~260,000 MAST shares traded, most active day in 2 months

** Session's gains push stock to YTD gains of ~3%

($1 = 0.8015 pounds)

(Reporting by Nishit Navin)

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** Shares of Mastek MAST.NS up 0.5% to 2783.7 rupees

** Brokerage Sharekhan increases target price of the enterprise technology solutions provider to 3,235 rupees, representing 16% upside to stock's last close

** Maintains "buy" rating

** Increase in TP due to possible strong order booking in the resilient UK public sector - Sharekhan

** Strong US growth profile and account mining efforts will offer stronger revenue visibility for FY25 and aid in industry leading growth in addition to recovery in margin profile - Sharekhan

** Stock set to rise for third straight quarter after four quarters of losses; gains ~89% during the period, as of last close

** Stock up ~63% YTD compared to 19% rise in Nifty 50 index .NSEI

(Reporting by Anuran Sadhu in Bengaluru)

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Nov 22 (Reuters) - Mastek Ltd MAST.NS:

• NSE, BSE LEVIED FINE OF 584,000 RUPEES EACH ON CO

Source text for Eikon: ID:nBSE2s4M3M

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** Shares of Mastek MAST.NS down as much as 8.3% to 2,166 rupees, their sharpest intraday low since Nov. 18, 2022

** Co's Sept-qtr net profit falls nearly 21% Y/Y

** Total expenses up 25%, dragged by employee costs which rose 26.2%

** Rev from ops up 22.4%

** Nearly 147,000 shares change hands by 3:03 p.m. IST, 2.4x the 30-day avg volume

** Stock last down 1.2%, trimming YTD gains to ~37%

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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Oct 18 (Reuters) - Mastek Ltd MAST.NS:

• UK'S GOVERNMENT DIGITAL SERVICE CONTRACTS MASTEK TO DELIVER TECHNICAL SERVICE DESK FOR ONE LOGIN PROGRAMME

• THE THREE-YEAR CONTRACT IS VALUED AT £8.5 MILLION

• THE THREE-YEAR CONTRACT CAN BE EXTENDED TO FIVE YEARS

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Sept 6 (Reuters) - Mastek Ltd MAST.NS:

• RESTEK LEVERAGES ORACLE EXPERTISE FROM MASTEK TO ENHANCE CHROMATOGRAPHY ONLINE SOLUTIONS

• ANNOUNCED ITS PARTNERSHIP WITH RESTEK CORPORATION

Source text for Eikon: ID:nBSE2vW5j8

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** Shares of Mastek MAST.NS rise as much as 3.42% to 2,245 rupees

** Uptick after the enterprise technology solutions provider signs a definitive agreement to acquire U.S.-based cloud solutions provider BizAnalytica for upfront consideration of $16.72 mln

** Acquisition to bolster MAST's data cloud and generative AI capabilities

** MAST posts 9% year-on-year slide in consolidated net profit in June quarter

** Core profit rises marginally, revenue up 27% Y/Y in June quarter

** Trading volume is 223,930 shares as of 12:07 p.m. IST, nearly twice the 30-day avg - Refinitiv data

** Stock up 31% YTD compared to 9% rise in Nifty 50 index .NSEI

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463))

July 19 (Reuters) - Mastek Ltd MAST.NS:

• JUNE-QUARTER CONSOL NET PROFIT 700.9 MILLION RUPEES VERSUS PROFIT 771.6 MILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 7.25 BILLION RUPEES VERSUS 5.70 BILLION RUPEES

• APPROVED PROPOSAL FOR SIGNING A DEFINITIVE BUSINESS SALE AGREEMENT WITH BIZANALYTICA SOLUTIONS LLP

• AGREEMENT FOR SLUMP PURCHASE OF IDENTIFIED ASSETS AND LIABILITIES INCLUDING BUSINESS OF BIZANALYTICA SOLUTIONS LLP

• APPROVED ACQUISITION OF 100% MEMBERSHIP INTEREST PURCHASE AGREEMENT IN BIZANALYTICA BY MASTEK INC.

• SLUMP PURCHASE FOR A CONSIDERATION OF ABOUT $1.28 MILLION

Source text for Eikon: ID:nBSE24V39y

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Adds response from human rights activists in paragraph 24 and 27

By Steve Holland, Simon Lewis and Jeff Mason

WASHINGTON, June 23 (Reuters) - Indian Prime Minister Narendra Modi met with U.S. and Indian technology executives in Washington on Friday, the final day of a state visit where he agreed new defense and technology cooperation and addressed challenges posed by China.

U.S. President Joe Biden rolled out the red carpet for Modi on Thursday, declaring after about 2-1/2 hours of talks that their countries' economic relationship was "booming." Trade has more than doubled over the past decade.

Biden and Modi gathered with CEOs including Apple's AAPL.O Tim Cook, Google's GOOGL.O Sundar Pichai and Microsoft's MSFT.O Satya Nadella.

Also present were Sam Altman of OpenAI, NASA astronaut Sunita Williams, and Indian tech leaders including Anand Mahindra, chairman of Mahindra Group, and Mukesh Ambani, chairman of Reliance Industries, the White House said.

"Our partnership between India and the United States will go a long way, in my view, to define what the 21st century looks like," Biden told the group, adding that technological cooperation would be a big part of that partnership.

Observing that there were a variety of tech companies represented at the meeting from startups to well established firms, Modi said: "Both of them are working together to create a new world."

Modi, who has appealed to global companies to "Make in India," will also address business leaders at the Kennedy Center for Performing Arts.

The CEOs of top American companies, including FedEx FDX.N, MasterCard MA.N and Adobe ADBE.O, are expected to be among the 1,200 participants.

NOT 'ABOUT CHINA'

The backdrop to Modi's visit is the Biden administration's attempts to draw India, the world's most populous country at 1.4 billion and its fifth-largest economy, closer amid its growing geopolitical rivalry with Beijing.

Modi did not address China directly during the visit, and Biden only mentioned China in response to a reporter's question, but a joint statement included a pointed reference to the East and South China Seas, where China has territorial disputes with its neighbors.

Farwa Aamer, director for South Asia at the Asia Society Policy Institute, in an analysis note described that as "a clear signal of unity and determination to preserve stability and peace in the region."

Alongside agreements to sell weapons to India and share with it sensitive military technology, announcements this week included several investments from U.S.-firms aimed at spurring semiconductor manufacturing in India and lowering its dependence on China for electronics.

White House national security spokesperson John Kirby said the challenges presented by China to both Washington and New Delhi were on the agenda, but insisted the visit "wasn't about China."

"This wasn't about leveraging India to be some sort of counterweight. India is a sovereign, independent state," Kirby said at a news briefing, adding that Washington welcomes India becoming "an increasing exporter of security" in the Indo-Pacific.

"There's a lot we can do in the security front together. And that's really what we're focused on," Kirby said.

Some political analysts question India's willingness to stand up to Beijing over Taiwan and other issues, however. Washington has also been frustrated by India's close ties with Russia while Moscow wages war in Ukraine.

DIASPORA TIES

Modi attended a lunch on Friday at the State Department with Vice President Kamala Harris, the first Asian American to hold the No. 2 position in the White House, and Secretary of State Antony Blinken.

In a toast, Harris spoke of her Indian-born late mother, Shyamala Gopalan, who came to the United States at age 19 and became a leading breast cancer researcher.

"I think about it in the context of the millions of Indian students who have come to the United States since, to collaborate with American researchers to solve the challenges of our time and to reach new frontiers," Harris said.

Modi praised Gopalan for keeping India "close to her heart" despite the distance to her new home, and called Harris "really inspiring."

On Friday evening, Modi will address members of the Indian diaspora, many of whom have turned out at events during the visit to enthusiastically fete him, at times chanting "Modi! Modi! Modi!" despite protests from others.

Activists said Biden had failed to strongly call out what they describe as India's deteriorating human rights record under Modi, citing allegations of abuse of Indian dissidents and minorities, especially Muslims. Modi leads the Hindu nationalist Bharatiya Janata Party (BJP) and has held power since 2014.

Biden said he had a "straightforward" discussion with Modi about issues including human rights, but U.S. officials emphasize that it is vital for Washington's national security and economic prosperity to engage with a rising India.

Asked on Thursday what he would do to improve the rights of minorities including Muslims, Modi insisted "there is no space for any discrimination" in his government.

"There is no end to data that shows Modi is lying about minority abuse in India, and much of it can be found in the State Department's own India country reports, which are scathing on human rights," said Sunita Viswanath, co-founder Hindus for Human Rights, an advocacy group.

(Reporting by Steve Holland, Simon Lewis and Jeff Mason; additional reporting by Trevor Hunnicutt, Doina Chiacu, David Brunnstrom and Kanishka Singh; Editing by Don Durfee and Grant McCool)

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The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at DAY/US. Thomson One users can register at RT/DAY/US. All times in ET/GMT

ON TUESDAY

FedEx Corp is expected to post a fall in fourth-quarter revenue as the parcel delivery giant grapples with declining demand on the back of high inflation and worries of a recession denting consumer spend.

U.S. housing data for May is on the economic radar. The Commerce Department is expected to report housing starts likely fell to 1.400 million units in May from 1.401 million units in the month before. Separately, building permits likely rose to 1.425 million units last month from 1.417 million units in April.

U.S. Federal Reserve Bank of New York President John Williams and Federal Reserve Vice Chair for Supervision Michael Barr are expected to participate in "Reflections on Culture: A Leadership Conversation" before the 2023 Governance and Culture Reform Conference hosted by the Federal Reserve Bank of New York, in New York. (1145/1545) Separately, Federal Reserve Bank of St. Louis President James Bullard is scheduled to give "Optimal Macroeconomic Policies in a Heterogeneous World" presentation before the Barcelona School of Economics Summer Forum, "Expectations in Dynamic Macroeconomic Models" Academic Workshop, in Barcelona, Spain. (0630/1030)

The world's biggest producers of lithium for electric vehicle batteries are scheduled to hold their largest three-day annual gathering at the Fastmarkets Lithium Supply & Battery Raw Materials conference in Las Vegas, Nevada, with demand for the white metal spiking amid the EV transition.

Top lithium producer Albemarle Corp is expected to host its sustainability day webcast to provide details about where it stands in achieving its sustainability targets.

Netflix Inc's co-Chief Executive Officer Ted Sarandos is scheduled to visit South Korea to meet Prime Minister Han Duck-soo and other key officials. Sarandos will likely hold a news conference in Seoul on Thursday. His trip to South Korea comes after announcing a $2.5 billion investment during South Korean President Yoon Suk Yeol's state visit to the U.S. in April.

The U.S. Food and Drug Administration (FDA) is expected to give its decision on marketing application for Argenx SE's new therapy for a neuromuscular disease called generalized myasthenia gravis.

Mexico's statistics agency is scheduled to release the country's April retail sales data.

REST OF THE WEEK

Federal Reserve Chair Jerome Powell is scheduled to deliver semi-annual monetary policy testimony to the U.S. House Financial Affairs Committee on Wednesday. Powell is also set to testify before the U.S. Senate Banking Committee on Thursday. Separately, the Senate Banking Committee, on Wednesday, is expected to hold hearing on the nominations of Adriana Kugler to the Federal Reserve board of governors, Lisa Cook to a second term as Federal Reserve board governor, and Philip Jefferson to Federal Reserve vice chair, in Washington.

Accenture Plc is expected to report a rise in third-quarter revenue on Thursday, as businesses turned to the IT services company to help boost AI adoption.

On the U.S. economic schedule, the Labor Department on Thursday is expected to report initial claims for state unemployment benefits likely rose to a seasonally adjusted 260,000 for the week ended June 17. U.S. business activity figures for June are scheduled for release on Friday. S&P Global's flash services sector PMI likely fell to 54.0 in June from 54.9 in the month before. Its flash manufacturing PMI likely dropped to 48.3 from 48.4 in May. On Thursday, the Commerce Department is expected to report the current account deficit likely expanded to $216.9 billion in the first quarter from a deficit of $206.8 billion in the fourth quarter of 2022. The National Association of Realtors on Thursday is expected to show existing home sales likely fell to 4.25 million units in May from 4.28 million units in the month before.

Federal Reserve Bank of Cleveland President Loretta Mester is likely to speak during welcome social before the "Policy Summit 2023: Communities Thriving in a Changing Economy" conference hosted by the Federal Reserve Bank of Cleveland, in Cleveland, Ohio, on Wednesday. Mester is expected to speak on the economic and policy outlook before the same conference on Thursday and will also giving closing remarks on Friday. Meanwhile, Federal Reserve Board Governor Michelle Bowman is scheduled to give opening remarks before the conference on Thursday.

Federal Reserve Bank of Chicago President Austan Goolsbee is expected to participate in moderated question-and-answer session before the Wall Street Journal Global Food Forum, in Chicago, on Wednesday. Federal Reserve Bank of Richmond President Thomas Barkin is set to speak on economy before the Risk Management Association RVA Chapter, in Richmond, Virginia, on Thursday. Separately, Federal Reserve Bank of Atlanta President Raphael Bostic is likely to participate in a conversation on relevant topics to the finance community and business before the University of Georgia Terry College of Business CFO Roundtable, in Atlanta, Georgia, on Thursday.

Federal Reserve Board Governor Christopher Waller is scheduled to give opening remarks before the Central Bank of Ireland and International Journal of Central Banking Research Conference, in Dublin, Ireland, on Thursday. Separately, Federal Reserve Bank of St. Louis President James Bullard is expected to give "Optimal Macroeconomic Policies in a Heterogeneous World" presentation before the conference in Dublin, on Friday.

JPMorgan is set to hold its two-day annual energy, power and renewables conference starting Wednesday, with presentations by oilfield service firms, energy pipeline operators, oil refiners, oil producers and shale oil and gas producers.

Federal Deposit Insurance Corporation Chairman Martin Gruenberg is scheduled to deliver remarks on strengthening bank capital requirements after several high-profile bank failures on Thursday.

Indian Prime Minister Narendra Modi is scheduled to meet the CEOs of top American companies including FedEx Corp, MasterCard Inc and Adobe Inc during his trip to the United States for an official state visit. The CEO reception with more than 1,200 participants, including business leaders from U.S. and Indian companies such as Tech Mahindra and Mastek, will be held on Friday at Washington's John F. Kennedy Center for the Performing Arts.

After delaying the target action date from May 29, the U.S. FDA is expected to give its decision on Thursday for Sarepta Therapeutics Inc's gene therapy for Duchenne muscular dystrophy. The therapy has a 8-6 backing from the advisory panel. FDA will also decide by Thursday on the use of Intercept Pharmaceuticals Inc's oral tablets for the treatment of a type of fatty liver disease known as non-alcoholic steatohepatitis (NASH).

Darden Restaurants Inc is expected to post a rise in fourth-quarter revenue on Thursday, helped by steady consumer demand for its brands such as Olive Garden and LongHorn Steakhouse despite increased menu prices. Investors will be looking for impact of commodity and labor costs on margins as well as indications of further rise in prices and possible shift in consumer dining patterns.

The Bank of Canada is scheduled to release its monetary policy deliberations held before its June 7 interest rate decision on Wednesday.

Statistics Canada on Wednesday is expected to report retail sales likely rose 0.2% in April, after falling 1.4% in the month before. Canada's budget balance data for April is due on Friday.

Brazil's central bank on Wednesday is anticipated to maintain interest rates steady at a seventh policy meeting, but signal better conditions for initiating a monetary easing cycle ahead amid cooling consumer prices and improved inflation expectations.

Mexico's central bank is expected to announce its monetary policy decision on Thursday. The Bank of Mexico last month maintained its benchmark interest rate at 11.25%, halting a cycle of rate hikes that began in June 2021. Mexico's inflation data for the first half of June is also scheduled for release on Thursday.

On Thursday, Argentina's statistics agency is expected to report the country's economy likely grew 1.5% in the first quarter, after it expanded 1.9% in the fourth quarter of last year. The country's statistics office, on Wednesday, is expected to post a trade surplus of $100 million in May, after a deficit of $126 million in April. Argentina's unemployment rate figures for the first quarter are due on Thursday and retail sales data for April is scheduled for release on Friday.

(U.S. markets are closed on Monday, June 19, for Juneteenth National Independence Day)

(Compiled by Nidhi C Sai in Bengaluru; Edited by Shilpi Majumdar)

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May 22 (Reuters) - Mastek Ltd MAST.NS:

• SOUTH AYRSHIRE COUNCIL PARTNERS WITH MASTEK, SOCITM ADVISORY, AND ORACLE TO TRANSFORM ITS ERP ECOSYSTEM

Source text for Eikon: ID:nBSE5h3Q19

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