Technical analyst Parsh Zaveri of Zaveri Investments has maintained 'buy' rating on Hexaware Technologies Limited stock with a target of Rs 116.

According to analyst, the investors can purchase the stock with a stop loss of Rs 100.

The stock of the company, on December 13, closed at Rs 106.45 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 107.80 and a low of Rs 65.10 on BSE.

Current EPS & P/E ratio stood at 8.72 and 12.41 respectively.

Hexaware Technologies announced that its PAT (profit after tax) surged to $8.6 million (Rs 420 million) as compared to $3.1 million (Rs 144 million) for the three month period ended September 30; Q-o-Q augmentation of 179% in dollar terms and enhancement of 192% in Rupee terms.

The supplier of IT, BPO and consulting services said that its income from operations remained at $61.1 million (Rs 2,817 million) surpassing the advanced revenue guidance of $60.0 million; Q-o-Q augmentation of 11.2% in dollar terms and boost of 12.2% in Rupee terms.

Mr. Atul Nishar, Chairman, Hexaware Technologies stated, "During Q3 2010, while operating margins (EBIT) improved by 200 basis points; the margins were suppressed to the extent of 220 basis points on account of knowledge transfer phase of the USD 110 million deal signed in Q2 2010. We expect to attain double-digit operating margins for the year 2011."