Small Cap IT Co To Consider Results, Dividend On April 18, Buy Call Recommended

Small cap company from the IT Software sector Mastek Ltd informed today that its Board of Directors will hold a meeting on April 18 to consider final dividend and financial results for the financial year ended March 31, 2024. Last trading price of Mastek Ltd share on BSE is Rs 2641.55 per share.

Mastek shares zoomed 469% in last 5-years and soared over 2% in last 1-week. Meanwhile, brokerage firm has recommended buy call to Mastek share with target price of Rs 3300 per share, respectively.

Mastek To Consider Final Dividend, Financial Results: As per the regulatory filing of Mastek Ltd dated April 9, 2024, "a meeting of the Board of Directors of Mastek Limited is scheduled to be held on Thursday, April 18, 2024, inter-alia, to consider, approve and take on record the following:
1. Consolidated (including Subsidiaries) and Standalone Audited Financial Results of the Company under Indian Accounting Standards (Ind AS) for the Financial Year ended March 31, 2024;
2. Recommend a final dividend for the Financial Year 2023-24, subject to the approval of the Shareholders at the ensuing 42nd Annual General Meeting."

Mastek Share Performance & Return: The 52-week high price of Mastek shares on BSE is Rs 3147.00 per share and 52-week low price is Rs 1551.10 per share, respectively. The company has amarket capitalisation of Rs 8147.68 crore. Mastek shares zoomed over 2% in last 1-week, declined 7% in last 1-months, soared 69% in last 1-year, and fell by 17% in last 2-years. In last 3-years, Mastek stock surged 94% and gained 469% in last 5-years.

Sharekhan Gives Buy: According to the analyst, "We believe the robust 12-month order backlog, resilient UK public sector business, NHS account recovery, strong US growth profile and account mining efforts would help the company achieve industry-leading growth." Hence, we maintain a Buy with a revised price target of Rs 3,300. At CMP, the stock trades at 23.4/19.3x its FY25/26E EPS, added Sharekhan.

Mastek Dividend History: Mastek declared 39 dividends since August 28, 2000. In last 12 months, Mastek announced an equity dividend of Rs 19.00 per share. If the current share price of Rs 2641.55, Mastek offers a dividend yield of 0.72%.

Mastek About: Mastek is an enterprise digital & cloud transformation specialist that engineers excellence for customers across 40 countries, including the UK, Europe, US, Middle East, Asia Pacific and India. It helps enterprises navigate the digital landscape and stay competitive by unlocking the power of data, modernising applications and accelerating digital advantage for its customers, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Sharekhan. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.