Sharekhan's research report on Mastek
Stock has fallen significantly following a muted Q3 and uncertainties on US Fed rate cuts and possible escalation of tariff wars, offering decent entry point from medium to long-term perspective. Mastek has secured ~$85 million in multiple contracts from a UK public service department to boost Digital, Data and Technology services over two years continuing to leverage its expertise in GovTech services. Company is seeing increased traction in UK driven by government services, healthcare, and private sector.
Outlook
We reiterate Buy with revised PT of Rs 3,030. At CMP, the stock trades at 20.4/18.3/15.7x its FY25/26/27E EPS.
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