Stay invested in Mastek, says Rajesh Agarwal

Rajesh Agarwal, Director Research at Eastern Financiers is of the view that one may stay invested in Mastek.

Rajesh Agarwal, Director Research at Eastern Financiers told CNBC-TV18, "Since the restructuring has been announced in  Mastek where they are going to demerge their insurance business and list that into domestic market and subsidiary of that insurance business is going to be listed in overseas market also. The stock has seen quite a good run up but still it is trading at a discount to its peer group stocks and there is enough room for the stock going up."

He further added, "One couldn't continue holding with the stock unless one is in requirement of cash the target being Rs 450 in next six months. So I would say, stay put with the stock, IT services businesses are going to do well. The new investors can go ahead and buy in correction at around Rs 350-355 levels." 

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