Hold Hexaware Technologies; target of Rs 130: Agarwal

Rajesh Agarwal, Head of Research of Eastern Financiers Limited told CNBC-TV18, "Hexaware Technologies' numbers have been pretty good with around 23.6 percent jump in bottomline with 5.7 percent jump in top line. It declared an interim dividend of Rs 1.40 and the guidance has been very good."

He further added, "Even on valuation parameter, it is trading at a P/E of less than 9, which is highly undervalued considering the kind of growth it has seen and the kind of confidence the management has shown."
"I would suggest a hold on to the stock with a price target of Rs 130 in next three-six months. As far as adding more quantity is concerned I would suggest wait for some correction. Once it reaches around Rs 97-98 levels one can add to that," Agarwal said.