Hexaware Technologies outlined its artificial intelligence strategy at an AI Day in Chennai, disclosing that over 50% of its revenue is AI-infused with 900+ agents in production and more than 70% of delivery AI-assisted. The company said it is targeting over $300 billion in net new AI total addressable market opportunities by replacing SaaS workflows with AI-native, client-owned solutions and entering new markets. JM Financial Institutional Securities and Motilal Oswal Financial Services noted the strategy, citing a 30% win-ratio target, pursuit of deals above $100 million, and new token-based commercial models.

Hexaware told exchanges that employee information allegedly sourced from its Azure tenant and flagged by cyber intelligence firm Hudson Rock was old and limited, after Hudson Rock said a hacker claimed 20,000 records including names, employee IDs, emails, phone numbers and addresses. Experts said the leaked material is consistent with genuine Azure or Entra exports and that organisation charts remain usable for targeting even if passwords age.

ICICI Securities retained its Hold rating on Hexaware Technologies Limited with a target price of Rs 580, valuing the stock at 20 times CY27E EPS. The brokerage noted Hexaware Technologies' net-new AI-led services could expand its addressable market and cited a domain-led win in an airline legacy modernisation deal, but said TCV from such AI opportunities remains low versus the total pipeline.

Hexaware Technologies Limited said it aims to double revenue to $3 billion by calendar year 2029 from around $1.5 billion now, including acquisitions, driven by AI-led transformation, West Asia expansion, technology vertical growth and private equity partnerships. CEO R Srikrishna said the company will use its Zero Friction Enterprise framework and Zerovity AI delivery layer to eliminate business friction and capture market share from traditional SaaS providers by targeting zero licences and five other friction points.

Hexaware Technologies Limited was named a preferred pick by Kotak Institutional Equities, which prefers challengers and hybrids over incumbents, and holds an Outperform rating from CLSA.

Hexaware Technologies said on August 19 its internal investigation found no reliable evidence of breach of its systems or customer environments after threat actor TheHatman, cited by Hudson Rock, claimed to have leaked over 20,000 Hexaware records from Azure tenants. Cybersecurity experts questioned the denial and said investors should treat no evidence as current visibility, not a definitive verdict.

Hexaware Technologies Limited reported 4.4% QoQ CC revenue growth in Q1FY27, among the strongest in the Tier-2 pack that Motilal Oswal Financial Services said led sector growth with 1.8% median growth versus 0.4% for Tier-1 players.

CLSA retained its Outperform rating on Hexaware Technologies Limited and nudged its target price higher to Rs 730 from Rs 727, as part of its favourable view on mid-tier IT amid AI transition.