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Buy Mastek: target of Rs 1400: Sharekhan

Sharekhan is bullish on Mastek has recommended buy rating on the stock with a target price of Rs 1400 in its research report dated March 31, 2021.

April 01, 2021 / 02:31 PM IST
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Sharekhan's research report on Mastek

The management is confident of maintaining sustainable strong growth momentum in the UK public sector and Evosys business in FY2022E. It sees strong traction in UK public sector for the digital transformation initiatives post Brexit. Mastek has successfully closed deals in both short-term and long-term digital projects with the UK government. We expect a strong recovery in order backlog in Q4FY2021, given recent deal signings with HMRC. Mastek is expected to deliver a strong revenue growth of 20% in FY2022E, led by strong growth momentum in public sector, healthy deal wins, cross-sell opportunities, traction for Evosys and a recovery in the US business.


We maintain a Buy on Mastek with a PT of Rs. 1,400 on a favourable risk-reward balance. Net cash is at ~17% of its current market capitalisation.

For all recommendations report, click here

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first published: Apr 1, 2021 02:31 pm

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