Buy Happiest Minds Technologies, target price Rs 1150: HDFC Securities

HDFC Securities has buy call on Happiest Minds Technologies with a target price of Rs 1150. The current market price of Happiest Minds Technologies is Rs 996.

Happiest Minds Technologies Ltd., incorporated in the year 2011, is a Small Cap company (having a market cap of Rs 14632.75 Crore) operating in IT Software sector.

Happiest Minds Technologies Ltd. key Products/Revenue Segments include Sale of services for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 359.33 Crore, up 7.99 % from last quarter Total Income of Rs 332.74 Crore and up 31.08 % from last year same quarter Total Income of Rs 274.12 Crore. Company reported net profit after tax of Rs 59.41 Crore in latest quarter.

Investment Rationale
Breakout from downward sloping trend line with volumes and closed above 50 days EMA resistance.

Promoter/FII Holdings
Promoters held 53.25 per cent stake in the company as of 30-Sep-2022, while FIIs owned 4.41 per cent, DIIs 1.48 per cent.