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Hold Mastek; target of Rs 2000: ICICI Direct

ICICI Direct recommended hold rating on Mastek with a target price of Rs 2000 in its research report dated July 23, 2022.

July 27, 2022 / 11:24 AM IST
 
 
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ICICI Direct's research report on Mastek


Mastek Ltd (Mastek) offers data, apps, cloud services to public & private enterprise in the UK, US, Middle East, Asia Pacific and India • The company’s recent acquisition of Evosys has enabled Mastek to provide end-to-end solutions and improves margins from ~14% to 21% • Net debt free and healthy double digit return ratio (with RoCE of 20%).


Outlook


We maintain HOLD rating on the stock. We value Mastek at Rs 2,000 i.e. 16x P/E on FY24E EPS.


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At 11:24 hrs Mastek was quoting at Rs 2,043.50, up Rs 19.40, or 0.96 percent.

It has touched an intraday high of Rs 2,048.80 and an intraday low of Rs 2,005.00.

It was trading with volumes of 3,249 shares, compared to its thirty day average of 6,160 shares, a decrease of -47.26 percent.

In the previous trading session, the share closed down 1.46 percent or Rs 29.90 at Rs 2,024.10.

The share touched its 52-week high Rs 3,666.00 and 52-week low Rs 1,851.00 on 19 October, 2021 and 20 June, 2022, respectively.

Currently, it is trading 44.26 percent below its 52-week high and 10.4 percent above its 52-week low.

Market capitalisation stands at Rs 6,143.94 crore.

For all recommendations report, click here


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Mastek - 250722 -icici

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first published: Jul 26, 2022 02:04 pm
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