{"id":101887,"date":"2023-04-20T12:55:00","date_gmt":"2023-04-20T07:25:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=101887"},"modified":"2023-04-20T12:49:46","modified_gmt":"2023-04-20T07:19:46","slug":"it-stock-rallies-more-than-13-after-release-of-annual-results-beats-market-estimates","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/it-stock-rallies-more-than-13-after-release-of-annual-results-beats-market-estimates\/","title":{"rendered":"IT stock rallies more than 13% after release of annual results; Beats market estimates\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1355276593\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of Mastek Limited opened their trading session at Rs 1,670 and currently trade at Rs 1,795. In comparison to the previous closing price of Rs 1,587.25, the stock has gained a whopping 13 percent.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1803874850\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Such a movement in the stock prices today is observed after the company announced its results for FY22-23. Details of the same have been discussed later on in this write-up.&nbsp;<\/p><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/MASTEK\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Mastek Limited<\/a><\/strong>, along with its subsidiaries, is engaged in the business of providing vertically-focused enterprise technology solutions. The company&#8217;s portfolio includes application maintenance, management, outsourcing, IT consulting, etc.\u00a0<\/p><p>Geographically, the company exports its services to the Middle East, North America, the United Kingdom, and other regions.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2640001366\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Digging into the financials of the company, the revenues, as well as PAT figures, have been reported with an increase in the recent quarter period with revenues going up from Rs 659 crores in Q3 to Rs 709 crores in Q4 and PAT moving from Rs 67 crores in Q3 to Rs 73 crores in Q4.&nbsp;<\/p><p>Having a yearly comparison of the metrics discussed above, the revenues shifted upwards from Rs 2,184 crores during FY21-22 to Rs 2,563 crores in FY22-23 and PAT figures moved down from Rs 333 crores in FY21-22 to Rs 310 crores in FY22-23.&nbsp;<\/p><p>Coming onto the profitability parameters of the company, it has shown decent growth in the basic ratios being the return on equity (ROE) and return on capital employed (ROCE). ROE moved up from 31.44 percent in FY20-21 to 35.52 percent in FY21-22. ROCE took a shift from 30.98 percent in FY20-21 to 38.29 percent during FY21-22.&nbsp;<\/p><p>According to the data available for the quarter ending December 2022, promoters hold a 37.27 percent stake. FIIs, on the other hand, have been consistently increasing their stake in the company with the recent movement being from 13.04 percent in Q2 to 13.25 percent in Q3.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Amit Madnani<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-172702687\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of Mastek Limited opened their trading session at Rs 1,670 and currently trade at Rs 1,795. In comparison to the previous closing price of Rs 1,587.25, the stock has gained a whopping 13 percent.&nbsp; Such a movement in the stock prices today is observed after the company announced its results for FY22-23. Details of [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[8692,8691,8689,8688,8686,8556,6561,6562,948,936,3153,3157,2597,8690],"class_list":["post-101887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-mastek-annual-results","tag-mastek-future","tag-mastek-q4-results","tag-mastek-results-2023","tag-mastek-share-price","tag-small-cap-it-stock","tag-small-cap-it-stocks","tag-small-cap-it-stocks-to-buy-now","tag-stock-market","tag-stock-market-news","tag-stock-to-buy","tag-stock-to-watch","tag-stocks-to-watch","tag-why-is-mastek-going-up"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IT stock rallies more than 13% after release of annual results; Beats market estimates\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of the company opened their trading session at Rs 1,670 and currently trade at Rs 1,795. 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