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Shares of Happiest Minds Technologies have surged nearly 13% in five trading sessions from its previous closing low of Rs 1,188.85 posted on 29 November 2021. The stock was locked in an upper circuit for second consecutive trading session. The stock has zoomed 332% from its 52-week low of Rs 310.20 recorded on 21 December 2020.
Since the start of 2021, the stock has given stellar returns to investors, rising 290%, while the Nifty 50 index has gained 22.5% in the same period.
On the technical front, the stock's RSI (relative strength index) stood at 59.165. 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 days simple moving average placed at 1324.53 but below 100 days simple moving average placed at 1372.72.
Happiest Minds Technologies, an IT solutions company, enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights.
The IT company's net profit jumped 30.4% to Rs 44.44 crore on 44.68% increase in revenue from operations to Rs 264.53 crore in Q2 FY22 over Q2 FY21.
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