Intraday Buy Call For Hexaware

Intraday Buy Call For HexawareTechnical analyst Salil Sharma has maintained 'buy' rating on Hexaware Technologies Limited with an intraday target of Rs 118.

According to analyst, the investors can buy the stock with a stop loss of Rs 108.

The stock of the company, on December 28, closed at Rs 112.20 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 113.15 and a low of Rs 65.10 on BSE.

Current EPS & P/E ratio stood at 8.72 and 12.93 respectively.

Hexaware Technologies Ltd. has decided to purchase a BPO supplier similar in size to its back office services division as the firm eyes to swell its functionings to gain from a recovery in the market for outsourcing and technology deals.

It is looking to purchase a company, which offers services to the similar segments and is based in the U. S. or the U. K. with service centers in the Indian market.

Heightening the volume will assist Hexaware to bid for big outsourcing deals as many firms provide such orders to those who can offer both technology and back office services.

During the third quarter ended September 30, 2010, the company's PAT surged to $8.6 million as against $3.1 million during the second quarter in 2010.