ICICI Direct has given Hold recommendation for Mastek with a target price of Rs. 1800 in its research report issued on Oct 23, 2022

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%).


We maintain HOLD rating on the stock. We value Mastek at Rs 1,800 i.e. 13x P/E on FY25E EPS.

Leave a Reply

Your email address will not be published. Required fields are marked *