Hexaware Technologies stock falls 14% despite better March quarter numbers

Even though it posted better- than-expected numbers in the March quarter of 2018, mid-sized information technology services firm Hexaware Technologies share price fell more than 14 per cent at the closing of the day’s trade on the BSE on Friday. 

The company’s share closed at Rs 387.40, a drop of 14.15 per cent over Thursday. According to analysts tracking the company, the valuation of the stock was a bit expensive going by the business fundamentals and the drop in the price is a correction. The stock was earlier trading 21 times of its 2019’s estimated earnings. 

“Even as we like