Stock split props up Hexaware Technologies

DALAL STREET SPIKES

Hexaware Technologies witnessed a sharp gain following the announcement of a stock split. The stock was up 8.86 per cent to close at Rs 786.10, after hitting an intra-day all-time high of Rs 802.

More than 2.15 lakh shares were traded at the counter on BSE today. The company's board today approved a stock-split in the ratio of five shares of Rs 2 each from one share of Rs 10 each.

Analysts said, the news of stock split resulted in renewed buying as liquidity is expected to improve with the stock split.

Hexaware Technologies has been in the limelight lately following impressive December-ended quarterly results. For the quarter ended December 2004, reported a 43.6 per cent growth in net profit at Rs 43.77 crore.

As against Rs 30.37 crore in the same quarter last year.