Great listing, investors’ money doubled in a week- The great listing of Happiest Minds has brought smiles on the faces of investors. Investors’ money has doubled in a week. Suppose an investor had invested in the IPO and got 100 shares. Their price (166 (issue price of the share) X100 (total shares)) would have been Rs 16,600. Now, after listing, the share price has become Rs 351. In this sense, the investment of Rs 16,600 has increased to Rs 35,100.
What should investors do now? Experts say that it will become expensive in terms of valuations. But, stay positive. Money is not to be made only in this IPO. Good opportunities will come in the coming days. IPOs of many companies are in the race. Short term investors should put a stoploss of ₹ 250 and exit. Keep trailing your stoploss continuously. At the same time, remain a long term investor.
Know about the share listing of Happiest Minds Technologies
The issue was subscribed 151 times- The Rs 700 crore IPO of IT services company Happiest Minds received 151 times the bids. In this IPO, bids were made for 351 crore shares, while only 2.33 crore shares were offered. This happened because people bet on the credibility of founder Ashok Suta. Investors have full faith in Ashok Suta.
What the company does-According to Happiest Mind, 97 per cent of its revenue comes from digital business, which is much higher than many companies like Infosys, Mindtree and Cognizant. These companies have an average digital revenue of 40-50 per cent. It offers digital business services, product engineering services and infrastructure management and security services.
Tags: Stock market, Stock Markets
FIRST PUBLISHED : September 17, 2020, 10:41 IST