Mid-sized software company Happiest Minds has seen good growth since its listing. Its stock has given four times returns so far this year. In July itself, it has risen by about 50 percent. The stock recently touched its all-time high of Rs 1,580.
Despite its rapid rise, experts believe that it is likely to rise further but in the short term it may come down a bit. For risk-averse investors, it would be a good idea to book some profits.
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Happiest Minds has been selected among the top 25 best companies for jobs in 2021. Since then its stock has risen significantly. The company’s results in the last quarter have also been strong. It has increased margins along with growth in revenue.
Likita Chhepa, Research Analyst, CapitalVia Global Research, said, “The continued rally in this stock is due to positive guidance from the company’s management. The company expects further improvement in sales and higher profits this year. It is likely to face resistance at Rs 1,730 and support at Rs 1,130.”
Nirav Vakharia, Technical Analyst, Green Portfolio, says, “The stock may see some downside in the next few weeks due to profit booking. Support will be at Rs 1,300 and Rs 1,200.”
He told that the next target will be decided according to the fall in it.
Experts advise that investors holding in this stock can book profits and buy new ones if it declines.
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