Based on sales, eClerx is one of the larger listed KPO companies in the Indian Market and hence not entirely comparable with the rest of the IT matrix. But the stock performance has been anything but one of a leader. The stock has since its listing in December 2007 has actually delivered better returns than market leader Infosys and this out performance is by a wide margin (223% return for eClerx vs 85% for Infy).
The stock had a stupendous 2009 and followed it with a good 2010 as well but then delivered flat returns in 2011 and 2012. It broke through the range in late 2012 and has steadily climbed higher. With IT stocks taking a beating recently, this stock too has come under some bit of pressure though the charts are still strongly bullish.
The best entry point for the stock would be if the stock bounces back from the 200 day EMA which currently hovers at 1011. In case that is broken with volumes, we will need to watch the stock as it goes back to its breakout zone of 880 where we should see some strong buying coming in.