Accumulate Majesco; target of Rs 851: Dolat Capital Market

Dolat Capital Market's research report on Majesco

Majesco has divested of operating business listed in US during the quarter effective date – 21st Sep’20 (received proceeds of Rs38bn and paid Rs7bn in capital gains), and thus published just financials for India holding entity and added the Profits from discontinued operations at Rs345mn (better than estimates).

Outlook

We believe the stock at CMP still offers risk-free upside of about 20% return (in three months) for any funds that do not pay any taxation on dividend income and thus offer good special situation opportunity.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More