Hexaware Technologies rallies on stake sale reports
Shares of Hexaware Technologies are down over 13 per cent since April and are trading below their 200-DMA placed at Rs 238.50, but above their 50-days EMA placed at Rs 224.59.
By ET Online | Updated:
NEW DELHI: Shares of Hexaware Technologies rose as much as 4.4 per cent in trade on Thursday after media reports suggested that Baring Private Equity Asia is in exclusive talks with the Hong Kong-based PCCW to sell a majority stake in the company.
Hexaware Technologies stock closed 1.8 per cent per cent higher at Rs 227.35 on the BSE. It has hit a low of Rs 226 and a high of Rs 233.30 in trade today.
The talks are understood to be focused over valuations with Baring seeking a minimum of 15 per cent premium over the IT player's current market price, said the media report.
Shares of Hexaware Technologies are down over 13 per cent since April and are trading below their 200-DMA placed at Rs 238.50, but above their 50-days EMA placed at Rs 224.59.
Hexaware Technologies stock closed 1.8 per cent per cent higher at Rs 227.35 on the BSE. It has hit a low of Rs 226 and a high of Rs 233.30 in trade today.
The talks are understood to be focused over valuations with Baring seeking a minimum of 15 per cent premium over the IT player's current market price, said the media report.
Shares of Hexaware Technologies are down over 13 per cent since April and are trading below their 200-DMA placed at Rs 238.50, but above their 50-days EMA placed at Rs 224.59.
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