Angel Broking is bullish on Hexaware Technologies and has recommended buy rating on the stock with a target of Rs 123 in its December 07, 2012 research report.
“Hexaware Technologies (Hexaware) has announced downward revision of its 4QCY2012 revenue guidance to US$92mn from US$94.7-96.5mn earlier; and thereby its full year CY2012 USD revenue growth guidance is now lowered down to 18% yoy from 20% earlier. The company attributed this to a sudden change in project scope and deliverables from a large client which is amongst its top-10 clients. This decline is likely to impact 4QCY2012 operating margin by 500-700bp qoq. However, the management indicated that this is a one-off event and the rest of the business currently continues to operate as earlier.”
“Hexaware Technologies (Hexaware) has announced downward revision of its 4QCY2012 revenue guidance to US$92mn from US$94.7-96.5mn earlier; and thereby its full year CY2012 USD revenue growth guidance is now lowered down to 18% yoy from 20% earlier. The company attributed this to a sudden change in project scope and deliverables from a large client which is amongst its top-10 clients. This decline is likely to impact 4QCY2012 operating margin by 500-700bp qoq. However, the management indicated that this is a one-off event and the rest of the business currently continues to operate as earlier.”
