If you've been scanning the Indian IT sector lately, you’ve probably noticed a name that feels both familiar and brand new. Hexaware Technologies is back. After a few years in the private equity shadows under Carlyle, the company made a massive splash with its re-listing in February 2025. Honestly, it was a bit of a moment. It wasn't just any IPO; it was a ₹8,750 crore statement.
But here is the thing about the hexaware tech share price (trading under the ticker HEXT)—it hasn't been a simple "up and to the right" story.
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Markets are moody.
As of mid-January 2026, the stock has been hovering around the ₹744 mark. If you look at the 52-week range, it’s swung between a low of ₹590 and a high of ₹900. That’s a lot of room for nerves. You've got retail investors who jumped in during the IPO at ₹708 feeling okay, but those who bought the peak last summer are definitely sweating a little.
What Is Actually Driving the Hexaware Tech Share Price?
Investors often get caught up in the "AI" buzzwords. Every company says they do AI now. Hexaware, though, has actually integrated it into their core through platforms like Tensai and Amaze. But the price doesn't just move on cool tech names. It moves on cold, hard math.
In the last quarter (Q3 2025), Hexaware reported a revenue of about $394.8 million. That's a 5.5% jump year-over-year. Not mind-blowing, but steady. What really caught my eye was the EBITDA margin hitting 17.5%. They are getting more efficient. When a company can squeeze more profit out of the same revenue, the market usually notices.
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Kinda helps that they've been on a shopping spree, too. They picked up CyberSolve for $66 million to beef up their cybersecurity game. Acquisitions are risky—sometimes you're just buying someone else's headache—but the market seems to think this one fits the puzzle.
The Carlyle Factor: A Blessing or a Curse?
Carlyle Group still looms large here.
They did the whole "Offer for Sale" (OFS) thing, meaning no new money went into the company during the IPO; it was just the big guys selling their lunch. Some people hate that. They want to see "fresh issues" where the money goes toward building new offices or hiring.
But look at the flip side.
The disciplined approach Carlyle brought has kept the debt/equity ratio low (around 0.11). That’s healthy. It means they aren't drowning in interest payments while trying to compete with the giants like TCS or Infosys.
The Numbers People Usually Miss
People love talking about the price, but they ignore the Price-to-Earnings (P/E) ratio. Right now, HEXT is sitting at a P/E of roughly 32.7.
Is that expensive?
Well, compared to the broader market, it’s a bit high. It suggests people are paying a premium because they expect big things. If the growth slows down even a little, that price could easily slide back toward the ₹600 level.
Why the Price Dipped Recently
The first few weeks of 2026 haven't been kind to Indian IT.
- Global Macro Jitters: Interest rates in the US are still being stubborn. When US companies feel the pinch, they cut their IT spending.
- Delayed Decision-Making: In the Q2 2025 report, Hexaware's management actually admitted that some clients were dragging their feet on signing new contracts.
- The "New Listing" Shine Wearing Off: After the initial hype of a 2025 IPO, the "tourist" investors usually leave. You're left with the long-term holders.
What to Watch If You’re Holding HEXT
If you’re looking at your portfolio and wondering what to do, keep an eye on their attrition rate. It’s currently around 11.4%. For an IT company, that’s actually pretty great. It means people aren't running for the exits, which saves a fortune on training and recruitment.
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Also, watch the Financial Services vertical. It’s their biggest breadwinner, growing at over 12% recently. If that segment catches a cold, the whole stock gets the flu.
Actionable Strategy for Investors
Don't just chase the green candles.
- Check the Resistance: The stock has faced a lot of "selling pressure" near ₹760. Until it breaks and stays above that for a few days, it’s likely to range-bound.
- Support Levels: There’s strong historical support around ₹698. If it drops below that, it might be a sign of a deeper correction.
- Diversify: Hexaware is a mid-cap player in a world of giants. It’s got more growth potential than a TCS, but it’s also way more volatile. Don't make it 50% of your bag.
The hexaware tech share price is basically a bet on whether a mid-sized, agile player can outrun the legacy behemoths using better AI integration and specialized acquisitions. It’s a high-stakes game.
To stay ahead, keep a close watch on the quarterly earnings releases—specifically the Constant Currency (CC) growth metrics—as these reveal the true operational health without the mask of currency fluctuations. If the CC growth continues to outpace the industry average of 3-4%, the current valuation might actually look like a bargain in hindsight.
Next Steps for You: Check your broker app for the current "Bid-Ask spread" on HEXT. In mid-cap stocks like this, a wide spread can eat into your profits if you try to exit a position too quickly during a volatile session.