Multibagger IPO: Shares of Happiest Minds have made their investors rich. The company’s stock has doubled investors’ money. Shares of Happiest Minds rose to Rs 1,159.45 on March 17, 2022 from Rs 540.10 as on March 31, 2021. During this period, the stock has registered a rise of 115 percent. On the other hand, the benchmark BSE Sensex has gained almost 17 per cent during the same period.
Returns of up to 600% off the issue price
This multibagger stock was listed in September 2020 at Rs 350 per share on NSE and Rs 351 per share on BSE, while the issue price was Rs 165 to Rs 166. The company’s shares stood at Rs 1,159.45 on March 17. Accordingly, this IPO has given a return of 598.19% from its listing price so far. Let us inform that on Monday, the company’s shares are trading at Rs 1,152.65 with a fall of 0.59%.
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What do experts say
Stock market experts are still expecting a rally on this counter as this IT company deals in digital and cloud business. It has strong business potential after COVID-19. Global IT fraternity veteran Ashok Soota is working to take the company forward. According to Choice Broking, the stock has given staggering returns since listing. “With Vision 2030 and stable management, we believe the company will grow rapidly in the initial years, which could lead to an increase in its valuation,” the brokerage house said in a report. Happiest Minds had a value-to-income ratio of 105.64 as on March 17, while the ratios for IT companies including TCS, Infosys and HCL Technologies were 37.18x, 38.03x and 38.99x respectively.
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company in profit
For the quarter ended December 31, 2021, Happiest Minds Technologies reported a 16.1 per cent rise in consolidated net profit at Rs 48.92 crore. It had made a net profit of Rs 42.15 crore in the same period a year ago. Its revenue grew 47.2 per cent to Rs 283.94 crore during October-December 2021, as against Rs 192.84 crore in the year-ago period.