News

Hexaware Tech shares gain nearly 4% after Midcap IT stock remains a 'consensus buy'All 10 analysts that have coverage on Hexaware Technologies have a "buy" rating on the stock.By Shloka Badkar   August 21, 2025, 1:50:47 PM IST (Published)2 Min ReadShares of Hexaware Technologies Ltd. gained as much as 4% on Thursday, August 21, after brokerage firm Nuvama initiated coverage on the stock, projecting a potential upside of 22.5% from its previous closing price.

Nuvama has a "buy" rating on Hexaware Tech with a price target of ₹950 per share.

The brokerage believes the company shall continue to outgrow and outperform its large-cap peers with a top line of $1.4 billion and market capitalisation of ₹43,800 crore.

Nuvama envisages solid growth for the company over the next few years. This is likely to be driven by a revenue base in a "sweet spot", coveted clientele, strong presence across verticals and service lines, and a robust cash flow profile, it added.

Over the calendar year 2024-27, Nuvama has estimated Hexaware Tech's revenue to grow at a compounded annual growth rate (CAGR) of 11% in US Dollar terms. It has also estimated the company's margin to expand 250 basis points, which should propel earnings before interest, tax, depreciation and amortisation (EBITDA) CAGR of 19% and earnings per share (EPS) CAGR of 18%.

The stock is trading at 28x and 24x its CY26 and CY27 price-to-earnings estimates, Nuvama said. This is in line with mid-cap peers LTIMindtree nd Mphasis.

All 10 analysts that have coverage on Hexaware Technologies have a "buy" rating.

Hexaware Tech shares are trading 3.79% higher at ₹803.1, having gained another 3% on Wednesday as well.

Also Read: India Cements shares in focus as OFS for Ultratech to sell stake opens todayContinue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsbrokerageHexaware TechnologiesNuvamashare market today