Hexaware Tech terminates 7 staffers over 'unauthorised, fraudulent refund'; check details
Hexaware Tech share price: The stock was last seen trading 1.35 per cent higher at Rs 665.85. At this price, it has slipped 12.83 per cent on a year-to-date (YTD) basis.
- Apr 8, 2025,
- Updated Apr 8, 2025 11:01 AM IST
Hexaware Technologies Ltd on Tuesday issued clarification over a news report titled, "Seven staffers booked for defrauding tech firm of Rs 4.83 crore in Nagpur". News report suggesting that certain employees have siphoned off Rs 4.83 crore from the company are inaccurate, the recently-listed stated in a BSE filing.
"In the Business Process Services (BPO) business, while providing customer support services to an ecommerce client, seven employees undertook unauthorized and fraudulent refund transactions amounting to Rs 4.83 crore. The actions of these employees were undertaken in the course of providing refund services for the e-commerce client. These actions have not had any financial impact on the company. Nevertheless, the company has on April 5, 2025 filed an FIR against these seven employees as a part of the disciplinary action against them for undertaking such transactions," Hexaware Tech underscored.
Also, the company mentioned that it has terminated the employment of these seven individuals prior to filing the FIR.
Separately, Hexaware has announced an interim dividend of Rs 5.75 for the financial year 2025. "We wish to inform that the Board of Directors of the company at its meeting declared first interim dividend of Rs 5.75 (575 per cent) per equity share of Re 1 each for the financial year 2025," it said.
"The interim dividend declared will be paid to those shareholders, whose names appear in the Register of Members and / or Depositories as on April 15, 2025, being the Record Date fixed by the company for this purpose. The dividend will be paid on April 23, 2025," the IT solutions provider added.
On the stock-specific front, Hexaware was last seen trading 1.35 per cent higher at Rs 665.85. At this price, it has slipped 12.83 per cent on a year-to-date (YTD) basis.
Technically, the scrip traded lower than the 5-day, 10-, 20-day and 30-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 38.44. A level below 30 is defined as oversold while a value above 70 is considered overbought.
As of February 17, 2025, promoters held a 74.71 per cent stake in Hexaware.
Hexaware Technologies Ltd on Tuesday issued clarification over a news report titled, "Seven staffers booked for defrauding tech firm of Rs 4.83 crore in Nagpur". News report suggesting that certain employees have siphoned off Rs 4.83 crore from the company are inaccurate, the recently-listed stated in a BSE filing.
"In the Business Process Services (BPO) business, while providing customer support services to an ecommerce client, seven employees undertook unauthorized and fraudulent refund transactions amounting to Rs 4.83 crore. The actions of these employees were undertaken in the course of providing refund services for the e-commerce client. These actions have not had any financial impact on the company. Nevertheless, the company has on April 5, 2025 filed an FIR against these seven employees as a part of the disciplinary action against them for undertaking such transactions," Hexaware Tech underscored.
Also, the company mentioned that it has terminated the employment of these seven individuals prior to filing the FIR.
Separately, Hexaware has announced an interim dividend of Rs 5.75 for the financial year 2025. "We wish to inform that the Board of Directors of the company at its meeting declared first interim dividend of Rs 5.75 (575 per cent) per equity share of Re 1 each for the financial year 2025," it said.
"The interim dividend declared will be paid to those shareholders, whose names appear in the Register of Members and / or Depositories as on April 15, 2025, being the Record Date fixed by the company for this purpose. The dividend will be paid on April 23, 2025," the IT solutions provider added.
On the stock-specific front, Hexaware was last seen trading 1.35 per cent higher at Rs 665.85. At this price, it has slipped 12.83 per cent on a year-to-date (YTD) basis.
Technically, the scrip traded lower than the 5-day, 10-, 20-day and 30-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 38.44. A level below 30 is defined as oversold while a value above 70 is considered overbought.
As of February 17, 2025, promoters held a 74.71 per cent stake in Hexaware.