Accumulate Majesco; target of Rs 851: Dolat Capital Market
Dolat Capital Market recommended accumulate rating on Majesco with a target price of Rs 851 in its research report dated October 08, 2020.
October 09, 2020 / 12:44 PM IST
Dolat Capital Market's research report on Majesco
Majesco has divested of operating business listed in US during the quarter effective date – 21st Sep’20 (received proceeds of Rs38bn and paid Rs7bn in capital gains), and thus published just financials for India holding entity and added the Profits from discontinued operations at Rs345mn (better than estimates).
We believe the stock at CMP still offers risk-free upside of about 20% return (in three months) for any funds that do not pay any taxation on dividend income and thus offer good special situation opportunity.
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