Daljeet Singh Kohli, Head of Research of India Nivesh Securities told CNBC-TV18, "Majesco - once the stock has moved by 90 percent you don’t jump in that bandwagon. Regarding the potential I am definitely sure that there is enough potential in this stock. Why because even if today at current price of Rs 580-590 , it is still trading at 1.5 times of FY17 revenue to sales. When we talk of guidewire that trades at 9 times, so instead of going to 9, even if it goes to 2.5 times, even then the target price will become Rs 900."He further added, "There is definitely a potential but obviously once the stock has moved 90 percent in just one-two months then you should give it time to cool down, so that you can buy it a better price. However, if you are an investor and you are looking for two years view, definitely there is no reason for anybody to stay away from it. You have to be in this stock."
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