Positive on Hexaware, Rolta: Geojit BNP Paribas

Would you take an exposure in any mid-cap IT stock currently?

Gaurang Shah: We have a couple of interesting buying ideas in the mid-cap IT and notwithstanding what happens to the cross-currency equation, you are going to see a volatile move in terms of dollar rupee or may be other currencies keeping in mind the kind of bailouts that you will see from the Eurozone or the QE part 3 if in case if Fed come out like we heard from some of the chief of the Fed, having said that on purely performance basis, we like Hexaware, we like Rolta. Tech Mahindra is the other pick that we have, so we will use the stock specific approach and recently Hexaware is something that we had given out a buy idea on, so that’s a disclosure from my side.

Why Hexaware?

Gaurang Shah: The stock has kind of bottomed out. The order also looks quite robust, margins are quite healthy and the kind of exposure to the cross-currency equation if one has to play it from a short-term point of view is quite negligible, so we are seeing a good move, close to roundabout 95, 92 levels will be a very comfortable zone to get into Hexaware.

Hexaware, you like what you heard?

Gaurang Shah: Definitely it sounds music to the ears but I guess some amount of clarification going forward as and when they decide on the acquisition, I guess that’s going to give an additional vertical for the top line revenues to get a robust bottom line, so from that point of view quite interesting and I guess with the kind of comfort that we have and the kind of outlook that we had, they possibly just what Mr. Nishar mentioned, it falls in line with our expectation, so one can definitely look at Hexaware from a medium to long-term point of view.