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Last Updated : Nov 10, 2015 01:08 PM IST | Source: CNBC-TV18

Majesco safe bet, target Rs 549: India Nivesh Securities

Daljeet Singh Kohli of India Nivesh Securites is of the view that Majesco is a safe bet with a view of one year and has a target of Rs 549.

Daljeet Singh Kohli of India Nivesh Securites told CNBC-TV18, "Majesco has lot more potential though the stock has moved up in the last 2-3 days. Its a play on US insurance sector and it will scale up to a large company. They have taken over two companies and added 30 more clients to them and they are now present in the entire value chain, right from initiation of policy to the claim settlement."

"We believe that over the next three years when the company starts getting the scale of USD 300 million, its margins will improve from 12 percent to 18 percent and this 9 times EV to sale will narrow down and that will give a huge upside. So we can get a target of Rs 549. Majsco looks to be a good and safe bet for the next one year," he said.
First Published on Nov 10, 2015 01:08 pm