ICICI Securities Limited
Hexaware reported healthy Q2CY20 on the back of healthy improvement in banking (3.4% QoQ), healthcare & insurance (3.5% QoQ) and hi tech & professional (2.1% QoQ) partially offset by 27.2% QoQ decline in travel & transportation vertical. We believe this improving trend will continue in coming quarters with travel being a laggard. In addition, one of the top three clients of the company has returned to growth in Q2CY20, which will further boost revenue growth in coming quarters. This coupled with healthy growth in net new deal wins (up 60% YoY in H1CY20, highest in past three years),...
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