India's Mastek surges on strong Q4 revenue, growth view

Mastek

20/04/2023 06:15

** Shares of Mastek  MAST.NS  rise as much as 11.3%,
sharpest intraday rise since Nov. 30, 2021, after reporting
strong Q4 revenue growth
    ** Stock last up 11%, swinging to a YTD gain of ~4%
    ** Co reported a 22.4% rise in consolidated revenue and 4%
rise in EBITDA, but net profit fell 9.2%
    ** The company has a healthy order book with growing
traction in cloud transformation services - brokerage Arihant
Capital Markets
    ** Australia business has shown increased traction, U.S.
business is expected to bounce back - Arihant
    ** Stock sees heavy trading, with volumes exceeding 25.7x
their 30-day avg at 10:35 a.m. IST and highest since Aug. 3,
2020
    ** Avg rating of 5 analysts close to equivalent of 'buy'
with median PT of 1,900 rupees - Refinitiv data

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))