Hold Hexaware Technologies, target of Rs 110: Agarwal

Rajesh Agarwal, Head of Research of Eastern Financiers told CNBC-TV18, "Averaging out is not a good strategy at this point in Hexaware Technologies because again there are very good choices available in the technology space like HCL Technologies, Rolta. One can have a target of Rs 110 in the next six-nine months."

"The performance has been quite satisfactory. Although there were hiccups because lot of clients did not recognise the revenue, the management has guided for a double digit growth in the coming year, but even on valuation parameters it is trading at a P/E of less than 9. So one can be comfortable with the stock which one is holding, but averaging out won't be a good strategy. Keep a target of Rs 110 in the next 9-12 months. If one wants to put new money go for HCL Tech," Agarwal said.