Hexaware's constant-currency revenue growth missed estimates, while EBIT declined 8.5% sequentially and margins contracted 140 basis points. Kotak Neo and Jefferies flagged delayed deal ramp-ups, weaker growth guidance and wage pressures, with both cutting earnings estimates and valuation targets. A host of brokerages, including CLSA, Kotak Institutional Equities and Axis Capital, retained their ‘Buy’ or ‘Accumulate’ ratings on Hexaware Technologies Ltd following its AI Day, where the IT.