Hexaware Reports Strong Market Position

Hexaware Reports Strong Market PositionOn Wednesday, renowned software firm, Hexaware Technologies Ltd, claimed that its shares of market value at $521.93 million, have reported a significant hike of around 4.5% to a four-year high of 83.20 rupees , during the morning trade. Further, the company has increased its revenue outlook for the second time this year. Earlier, the company has forecasted revenue of at least $295 million for the year.

In the April-June quarter the company has expended its network with 14 new entries to its client database and influenced the market figures where its operating margins were observed to raise 100 basis points to 15.3%.

"Following the healthy performance in the first half of 2011 and increased business visibility on the back of the deals signed, we upgrade our revenue outlook for the second time to a minimum of USD 302 million for 2011, an annual revenue growth of at least 30 per cent compared with 2010”, notified Hexaware Technologies Chairman, Atul Nishar.

The Chief Executive of the company, P. R. Chandrasekar, said that the firm is enthusiastic to watch the macroeconomic developments closely, signed deals as well as the quality of the current business pipeline that has created feasible circumstances to achieve desired levels of performance.