Centrum Broking retains buy on Mastek, target price Rs 535
Buy Mastek Ltd. at a price target of Rs 535.0 .
For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 243.60 crore, down -1.59% from last quarter sales of Rs 247.54 crore and down -5.24% from last year same quarter sales of Rs 257.07 crore. The company has reported net profit after tax of Rs 24.64 crore in the latest quarter.
EPS estimates are trimmed modestly by 2.5/4% for FY20/FY21E. Mastek has 11.2% stake in Majesco USA which it plans to monetize and hence, strong balance sheet and cheap valuations offer favourable risk return, said the brokerage.