Hexaware Tech hardens as board approves merger of BPO firm

Hexaware Technologies gained 3.14% to Rs 121.35 at 12:07 IST on BSE after the company's board of directors approved the merger of a business process outsourcing with itself.

Meanwhile, the S&P BSE Sensex was down 83.63 points or 0.39% at 21,242.63

On BSE, 1.46 lakh shares were traded in the counter compared with average volume of 2.47 lakh shares in the past one quarter.

The stock hit a high of Rs 121.70 and a low of Rs 118.40 so far during the day. The stock hit a 52-week high of Rs 139.35 on 11 November 2013. The stock hit a 52-week low of Rs 72.30 on 25 June 2013.

The stock had underperformed the market over the past one month till 9 December 2013, falling 12.3% compared with the Sensex's 3.19% rise. The scrip also underperformed the market in past one quarter, declining 6.22% as against Sensex's 10.67% rise.

The mid-cap company has equity capital of Rs 59.98 crore. Face value per share is Rs 2.

Hexaware Technologies after market hours on Monday, 9 December 2013 said that the company's board of directors at its meeting held on Monday, 9 December 2013, approved the merger of the wholly owned subsidiary company, Caliber Point Business Solutions, a business process outsourcing (BPO) service provider, with itself.

Hexaware Technologies' consolidated net profit rose 0.82% to Rs 98.72 crore on 12.2% growth in total income to Rs 609.11 crore in Q3 September 2013 over Q2 June 2013.

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