Buy Hexaware on dips; target 80-81: CK Narayan

CK Narayan, President Treasury, Sharyans Resources in an interview with ET Now talks about Hexaware.

What is the call on Hexaware?

It might surprise a lot of people to learn that Hexaware has been one of the most trended stocks within the IT space. If you take a relative performance over the last 3 months, you would actually find that Hexaware is miles ahead of even things like Infosys and TCS.

Probably all this earlier build up is by insiders and that is what has propelled this stock significantly upward. Now that the news is reaching some combination, this stock is beginning to slow up. Maybe it is a little bit at resistance but the uptrend is clearly not violated. Any dip down to about 64-65 presents us with yet another buying opportunity. Hexaware uptrend is here to stay.

It is not going to get vitiated swiftly. So any dip should be used to buy. 64-65 is where I would look to buy and on the upside maybe look right up till about 80-81 for a price target.