Stock of Happiest Minds Technologies has delivered over 300% returns to shareholders since its market debut in September last year. The largecap share has surged from its listing price of Rs 351 on September 17,2020 to Rs 1,440 in the current trading session.
An amount of Rs 1 lakh invested in Happiest Minds Technologies stock on September 17 last year would have turned into Rs 4.10 lakh today.
The IT stock has gained after 2 days of consecutive fall. The stock touched a fresh high of Rs 1,440.30 today, rising 1.89% against previous close of Rs 1413.50
Happiest Minds share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Multibagger alert: This stock gave 1,285% returns in one year
The stock has gained 314.85% since the beginning of this year.
On BSE, 0.30 lakh shares changed hands amounting to turnover of Rs 4.28 crore.
Market cap of the firm rose to Rs 20,904 crore on BSE.
The firm has outperformed its peers in terms of stock market returns in nearly one year.
Rs 5 to Rs 112: This penny stock turned into a multibagger in one year
While share of TCS has gained 65%, Infosys stock has risen 82.38% in one year.┬а Stock of another player in the industry Wipro rose 135.48% in one year and HCL Tech share could manage decent gains of 65% for its shareholders during the period under consideration.
However, the stellar performance of the stock is not in line with the firm’s financials.
Profit in June quarter stood at Rs 35.01 crore, a fall of 28.23% against Rs 48.78 crore net profit of corresponding period of last fiscal.
However, revenue rose 41 per cent to Rs 331 crore compared to the corresponding three month period in the previous year.
Multibagger alert: This stock gave 1,285% returns in one year
The firm’s financial performance has weakened after December 2020 quarter. Profit fell from Rs 42.15 crore in Q3 to Rs 36.92 crore in Q4 of last fiscal.
The company logged a stellar market debut on September 17,2020 with its share listing at a premium of 111% to its issue price on BSE. The share opened at Rs 351, delivering investors return of Rs 185 or 111% compared to IPO price band of Rs 165-Rs 166 per equity share. The technology firm stock further rose 12.53% to intra day high of Rs 395 on BSE.
The IT company is engaged in digital and cloud business and has a strong business outlook post-Covid-19 scenario.
This stock turned Rs 1 lakh into Rs 10 lakh in one year, did you miss the rally?
Rs 5 to Rs 194: This penny stock turned into a multibagger in one year
