Mastek Ltd A Good Mid Cap IT Stock To Buy

Why Mastek Ltd A Good Mid Cap IT Stock To Buy?
Mastek Ltd. having posted its Q3 results for quarter ending March 09, has posted flat results. 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.
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. thanks