KOTAK ON HEXAWARE TECHNOLOGIES ; BUY | TP ₹620 (EARLIER ₹660)

• Kotak maintains Buy rating on Hexaware Technologies but cuts target price to ₹620 from ₹660. • Company withdraws CY26 revenue growth guidance and expects sequential revenue decline in Q4. • Kotak cuts CY27–28 EPS estimates by 6.5–7% amid weaker growth expectations. • Company lowers EBIT margin guidance to 13–13.5%. • New CEO expected to focus on large-deal conversion, stronger sales execution and margin improvement.

HEXAWARE TECHNOLOGIES LTD

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