About The Stock
The most fancied stock of the capital market and in the news from past trading days has attracted many traders and as well as many investors.
About The Results
Mastek Ltd. having posted its Q3 results for quarter ending March 09, has posted flat results, if analysed on YoY basis but has disappointed on QoQ.Total income for Q3 is placed at Rs .233 crores against Rs.251 crores of Q2 while PAT has been at Rs. 33.38 cr. for Q3 against Rs.31.33 crores of Q2. But Q2 had a forex loss of Rs. 11.73 crores while Q3 has a forex gain of Rs. 2.03 crores. Culprit for the quarter seems to be its UK operations, where EBIT sharply fell to Rs. 37.50 crores on topline of Rs. 105 crores against Rs. 54 crores on topline of Rs. 117 crores in the corresponding quarter of the previous year.
About The Stock
However, Share price having taken a beating to Rs. 97 on 13th March 09 is now finding value and has moved to Rs. 146, post results. EPS of Rs. 12.41 for Q3 and Rs. 39.33 for 9 months ending March 09 makes the stock affordable and attractive at a PE multiple of less than 3 times.
Though all mid cap IT stocks have the same fate on valuations front, this stock looks attractive, which can move to 170 levels, by the time company will announce its Q4 results
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