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Shares of Happiest Minds zoomed 10% in five trading sessions from its previous closing low of Rs 908.20 on 23 June 2021. The counter hit a record high of Rs 1,005 in intraday today. The stock has surged 251% from its 52-week low of Rs 285.55 recorded on 5 November 2020.
In last one month, the stock has moved 15% higher as compared to a 2.25% rise in Nifty 50 index.
On the technical front, the stock's RSI (relative strength index) stood at 74.947. 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 826.75 and 675.47 respectively. These levels will act as crucial support zones in near term.
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 IT company's consolidated net profit fell 14.5% to Rs 36.05 crore on a 14.5% increase in revenue to Rs 220.71 crore in Q4 FY21 over Q3 FY21.
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