India's Happiest Minds surges on positive growth, demand outlook

Happiest Minds Technologies

24/01/2023 07:14

** Shares of Happiest Minds Technologies  HAPP.NS  rise as
much as 7.22% to 884.95 rupees, marking the biggest intraday
gain in more than five months
    ** Stock on course to snap a four-day losing streak
    ** The IT consulting and services company on Jan. 19
reported an uptick in consolidated net profit in the third
quarter  urn:newsml:reuters.com:*:nFWN3432X4
    ** Co says it remains on track to achieve 25% year-on-year
growth for FY2023, according to the transcript of the analysts
call, released during market hours on Monday
    ** Continue to see strong demand, have positioned ourselves
to fulfil the demand by enhancing delivery capacity in every
location: Happiest Minds management
    ** Financial return ratios remain very healthy, core profit
margins are ahead of our guidance while revenue growth and
profitability continue to be industry-leading, despite a
seasonally weak quarter: Co
    ** Trading volume is 1.04 mln shares as of 12:34 p.m. IST,
6.5x the 30-day avg of 160,449 shares: Refinitiv data
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))