Mastek shares surge 13% as Midcap IT stocks rebound; check its highest price target

Shares of Mastek Ltd. have snapped a five-day losing streak on Tuesday, March 18, as the stock, along with some of its other Midcap IT peers, rebound from oversold levels. The stock has surged as much as 13% in trade and is the top gainer on the Nifty 500 index.The stock had declined 12% over the last five trading sessions. With this surge, the stock has recovered nearly everything it had lost during the last five trading sessions. As of closing on Monday, the stock had declined 38% from its peak.
Shares of Midcap IT companies have been on a downward spiral over fears of recession in the US, which happens to be a core market for most of the Indian IT services providers.
Mastek is tracked by five analysts, where three of them have a “buy” rating on the stock, while the other two have a “hold” recommendation.Avendus Spark is the one with the highest price target for Mastek, at ₹3,500, which is higher than the stock’s recent 52-week high of ₹3,375 and also implies a potential upside of 66% on the stock from Monday’s close. Anand Rathi Securities also has a ₹3,500 target on Mastek, but with a “hold” rating.

All five analysts tracking Mastek have price targets in excess of ₹3,000.

Shares of Mastek are also surging on very strong volumes. As many as 17 lakh shares have already changed hands on the NSE, in comparison to the full-day volume of 2 lakh shares on Monday.

Shares of Mastek are trading 13.5% higher on Tuesday at ₹2,398. Despite this upmove, the stock is still down 20% so far in 2025.