Hexaware shares soar 11.29 percent

By SiliconIndia   |   Wednesday, October 28, 2009
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Bangalore: After closing at Rs. 79.85, Hexaware Technologies emerged as one of the top gainers on Wednesday on BSE with a gain of 11.29 percent. The stock surged after the announcement of quarterly results by the company. The Hexaware stock opened the day at Rs.73.20 and touched a high of Rs. 83.40, before ending the day at Rs. 79.85 up Rs. 8.10. Through the day 1,798,191 shares of Hexaware were traded, with the current P/E ratio of the stock at 15.04. The 52 week stock price chart is on the left. Hexaware is a global provider of IT and business process outsourcing (BPO) services and consulting. The company's core expertise spans development support, integration, implementation and testing services across enterprise software systems. The company announced that its consolidated net profit surged by over three-fold to Rs. 41.34 crore for the quarter ended September 30, against the same period in previous fiscal. On the standalone basis the company reported a net profit of Rs. 36.63 crore for the quarter ended September 30, against Rs. 11.04 crore in the same period previous year. Out of the seven analysts following the stock currently, the consensus recommendation is to hold the stock, with three analysts suggesting that the stock will underperform. DSP BlackRock Micro Cap Fund - Regular Plan holds the highest number of Hexaware shares, with 361,917 shares in its kitty.
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