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HomeMoneyThe price of this share has reached from Rs 347 to Rs...

The price of this share has reached from Rs 347 to Rs 1319 in a year, do you have it?

Highlights

  • Happiest Minds has given multibagger returns in the last one year
  • This stock has given 279.95 percent return to investors during this period.
  • In this way, this stock has tripled the wealth of investors in this year.
  • This stock was listed on BSE on September 2020 at Rs 350

Mumbai
The stock of Happiest Minds Technologies Limited, a Bangalore-based IT services company, has become a multibagger in the last one year. This stock has given 279.95 percent returns to the investors during this period. On 27 December i.e. Monday, it closed at a price of Rs 1319, whereas on 24 December last year its price was Rs 347.15. In this way, this stock has tripled the wealth of investors in this year.

The stock was listed on the NSE and BSE on September 2020 at Rs 350 and Rs 351 respectively while its issue price was Rs 165-166. Giants like Ashok Soota were the executive chairman of this company, due to which the investors took it in hand. Soota is one of the top 10 founders of Mindtree and is considered one of the stalwarts of the IT industry.

great returns
In the last one year post listing, the company has given excellent returns to the shareholders due to its cloud and digital business. In the post-Corona world, huge investments are expected in these areas. There is a lot of growth potential in the digital business as most of the companies are turning to digital. Services like cloud, security and analytics account for 97 per cent of the company’s total revenue. This is the reason why it is seen in the industry as a digital services firm rather than an IT company.

Year by year investors became rich, shares of Rs 274 were listed at Rs 425

In the second quarter of FY 2022, the company maintained the growth momentum on the back of strong demand. During this period, the company’s operating revenue stood at $35.8 million, up 8 percent from the previous quarter and 44.9 percent from the same quarter last year. The company’s revenue in Indian Rupees stood at Rs 264.53 crore, which is 8.1 per cent higher than the previous quarter and 44.7 per cent higher than the same quarter last year. The EBITDA and PAT of the company grew by 42% and 30.4% respectively during this period. The company added 8 clients during the quarter and reached 186 clients as on 30th September, 2021. North America accounted for 66% of the company’s total revenue and India’s 13%.

At 11 am on Tuesday, the company’s stock was trading at Rs 1310.15, down 0.67 per cent, or Rs 8.85, on the BSE. The 52-week high of Rs 1,580.80 and 52-week low of Rs 333.45 of the company’s stock on the BSE.

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