Technical analyst Puneet Kinra of Bonanza Portfolio has maintained 'buy' rating on Hexaware Technologies Limited stock with a target of Rs 57.50.

According to analyst, the stock can be purchased with a stop loss of Rs 50.50.

The stock of the company, on March 1, closed at Rs 54.95 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 65 and a low of Rs 32.65 on BSE.

Current EPS & P/E ratio stood at 3.79 and 14.61 respectively.

Hexaware Technologies announced that its directors have sanctioned assigning one bonus share for each equity share held by company's shareholders.

The Board's Capital Issue Committee okayed the allocation of bonus shares in proportion 1:1 as sanctioned by investors during the Extra-Ordinary General Meeting, which took place on February 15, 2011.

In standalone net profit for the three month period ended December 2010, Hexaware Technologies registered an increase of 13.57% to Rs 326.32 million as compared to Rs 287.32 million during the corresponding period of last year.

Net sales for the period under review surged 7.46% to Rs 1,258.52 million.

Company's total income for Oct-Dec quarter grew by 5.95% to Rs 1,334.24 million as against the same period of 2009.

The company registered an EPS of Rs 2.25 per share during the quarter, recording 12.50% increase over prior year period.