Buy Hexaware Technologies, target Rs 280: Shrikant Chouhan

Shrikant Chouhan of Kotak Securities Limited has a buy call on Hexaware Technologies with a target price of Rs 280.

The current market price of Hexaware Technologies is Rs 258.6.

Time period given by analyst is intraday when Hexaware Technologies price can reach defined target.

Shrikant Chouhan recommended to keep stoploss at Rs 249.

Hexaware Technologies, incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 7,632.01 crore) operating in Information Technology sector.

Hexaware Technologies key Products/Revenue Segments include Software Development Charges which contributed Rs 1,393.04 crore to Sales Value (100 per cent of Total Sales)for the year ending 31-Dec-2016.

For the quarter ended 31-03-2017, the company has reported a Consolidated sales of Rs 960.53 crore, up 2.09 per cent from last quarter Sales of Rs 940.87 crore and up 17.11 per cent from last year same quarter Sales of Rs 820.21 crore.

Company has reported net profit after tax of Rs 113.90 crore in latest quarter.

The company’s top management includes Mr.Atul K Nishar, Mr.Basab Pradhan, Mr.Bharat Shah, Mr.Christian Oecking, Mr.Dileep Choksi, Mr.Jimmy Mahtani, Mr.Kosmas Kalliarekos, Mr.P R Chandrasekar, Mr.R Srikrishna, Mrs.Meera Shankar. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2017, the company has a total of 295,429,744 shares outstanding.