Dipan Mehta, Member, BSE/NSE is of the view that one can expect another 4-5% rise in Sasken Communication.

Mehta told CNBC-TV18, "We have seen quite a phenomenal move in Sasken. It is more to do with value buying at this point of time apart from overall improvement in performance, which we are expecting for the quarter not only in terms of topline but also improvement in operating profit margins there is always the expectation that there could be some asset sale. They are sitting on a lot of property, which could reduce the debt levels and to that extent I think make the stock that much more attractive."

He further added, "It is a stock where there is scope for positive surprises and at the same time I think if something comes out of the product business then that could be a bit of a bonus. But I think the stock has more or less discounted all these aspects. Maybe another 4-5% rise from these levels is possible but beyond that not much unless we see some fresh news. Taking this whole discussion forward, I think a lot of similar software services companies in the similar space or similar business model are also available at quite attractive valuations, single-digit kind of P/E multiples very close to their book value or even the break up value. So there is an opportunity over there and if there is a long-term view on this sector then these stocks are good levels to get into at this point of time."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.