Dipan Mehta, Member, BSE/NSE is of the view that Hexaware Technologies can move up further.
Mehta told CNBC-TV18, "A quick back of the look calculation suggests that the PE is more or less same or slightly lower then what Hexaware is perhaps trading at. So that seems to be fair deal at this point but they are having a conference call later in the evening and we may get some more details. The profit margins, which they have just now, is a lot of it is onsite and there is typical benefit when the work is shifted offshore."
He further added, "We need to understand what kind of operating profit margin increases can be anticipated post acquisition. But nonetheless it's shot in the arm for the stock and the company as a whole and we feel confident that the stock could perhaps move up even further from these levels. It's a company in which we have an investment and are recommended to our clients."
