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Happiest Minds hits record high; bucks weak market trend

Capital Market 

Happiest Minds Technologies jumped 6.39% to Rs 632.1, extending its winning run to fifth consecutive trading session.

Shares of Happiest Minds zoomed 22% in five trading sessions from its previous closing low of Rs 517.8 on 25 March 2021. The counter hit a record high of Rs 675 in intraday today. The stock has zoomed 121% from its 52-week low of Rs 285.55 recorded on 5 November 2020.

Meanwhile, the S&P BSE Sensex tumbled 1042 points or 2.08% to 48,987.83.

On the technical front, the stock's RSI (relative strength index) stood at 74.52. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 472.76 and 402.89 respectively. These levels will act as crucial support zones in near term.

Bengaluru-based Happiest Mind Technologies is an IT services provider. It leverages a spectrum of technologies such as: Big Data Analytics, AI & Cognitive Computing, Internet of Things, Cloud, Security, SDN-NFV, Blockchain, Automation including RPA, etc.

The company's consolidated net profit rose 23.7% to Rs 42.15 crore on 5.47% increase in revenue to Rs 192.84 crore in Q3 December 2020 (Q3 FY21) over Q2 September 2020 (Q2 FY21).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, April 05 2021. 12:42 IST