MARKET EYE-India's Hexaware gains on expectations of earnings recovery

Tue Feb 12, 2013 1:20pm IST

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* Shares in India's Hexaware Technologies Ltd gain 1.2
percent after Macquarie and Bank of America-Merrill Lynch
upgrade their ratings on the stock, citing expectations earnings
will recover this year and valuations.   
* Bank of America-Merrill Lynch upgrades the software services
provider to "buy" from "neutral", while Macquarie upgrades its
rating to "outperform" from "underperform". 
* Hexaware reported a 25 percent fall in October-December
quarter net profit on Monday, but said sales grew 16.2 percent.
 

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)
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