Sell Mastek, says Rajesh Agarwal

Sell Mastek, says Rajesh Agarwal, Head - Research, Eastern Financiers.

Agarwal told CNBC-TV18, "Considering the fundamentals I do not think there is any point in averaging Mastek because if you look at the numbers, the numbers were quite bad from the last 3-4 quarters."
He further added, "They have lost a big client called Capita. 50% of the business comes from UK and I do not find any reason to believe that the performance would improve in the next 3-4 quarters. It is not point sticking to this stock. It might be languishing these levels only Rs 10 here and there. One should try to switch from this stock to some other stock. I would suggest a sell."