- summary:
- The price of Hexaware’s share started a strong start for the first time in the stock market, but does it have to stay up to stay awake?
Hexaware Technologies achieved Hexaware Technologies for the first time on the stock exchange on Wednesday, as its shares rose sharply higher than the public subscription price. In NSE, the price of Hexaware ended today at 755.75 rupees, equivalent to 6.74 % higher than the public subscription price of 708 rupees.
The public subscription started at Hexaware on February 12 and closed on 14, but it was only 2.79. This was explained as a low interest by investors, but the market appearing for the first time is likely to attract a big leap in the flow. Also, the general subscription was the largest by the Indian IT company, as it achieved 8,750 rupees (just a higher higher than $ 1.008 billion) to overcome the 2022 Tata Consultance profits of a similar exercise.
The company has a global imprint, as a workforce includes more than 31000 and a list of customers including 31 Fortune 500. Hexaware technologies (NSE: Hext) is increasingly tended towards artificial intelligence technology (AI). Global Investment Company, Carliel maintains a controlling share at Hexaware.
However, the situation of the investor towards the public subscription indicates a possible slowdown in the share price in the coming weeks, amid increasing concerns about the performance of the industry. It is worth noting that institutional investors have been excessive in classifying the allocation of public subscription more than ten times, while retail investors took only ten percent of their part. This can limit the price of Hexaware if the trend continues in the stock market.
Hexaware predicts the share price
Hexaware shares axis prices at 757.40 rupees and work above this level will indicate control by buyers. The arrow is likely to move up and face the first resistance at 762.70 rupees. However, the most powerful upward momentum can break this level and may test 768.90 rupees.
On the other hand, the momentum is likely to turn towards the negative side if the price is less than 757.40 rupees. This support can be seen in 749.70 rupees. The bullish direction would be invalid if the price is less than this level. Control by sellers can see low price and find second support at 740.55 rupees.
