My Opinion
Mahaveer Infoway limited is an IT services Company. The global delivery centers of this Company are located in Hyderabad, Banglore and Hubli. It is basically in software testing field.
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The key customers of the Company are Wipro, 3i Infotech and Virtusa. It does states Software Development, IT Consulting, Networking Solutions, Software Testing, Training, Distribution of IT & Telecom Products, Offshore Staffing, Real estate Development and Financial Services as key function areas.
But I do not find any key difference between this Company and other major software companies in India. There is no MOAT. It does not enjoy any difference between operating model of other Companies.
I would not suggest to invest in this Company. Small companies with no differentiation in IT space should not be invested into. I would not suggest to invest in this Company
Below is screen shot of long term performance of the Company. It is recent listing on stock exchanges. It has not performed well on the stock exchanges.
