ICICI Direct's research report on Mastek
Mastek Ltd (Mastek) offers data, apps, cloud services to public & private enterprises 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 improve margins from ~14% to 21% • Net debt free and healthy double digit return ratio (with RoCE of 20%).
Outlook
We change our rating from BUY to HOLD. We value the stock at 22x FY24EPS with a target price of Rs 3100.
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