🌟 Happiest Minds Technologies Limited 🌟

#HAPPSTMNDS #InvestmentIdeas #TradingUniversity

📊About:
With a whopping📈 111% premium, the company was listed on the stock exchange 17 th September 2020. Post listing company has given a return of nearly📈 165%. The IT company works with technologies like Artificial Intelligence, Cloud, Blockchain, Digital process automation, IoT, and Robotics/drones, Virtual/Augmented reality.
Headquartered in Bangalore with operations in U.S., U.K., Canada, Australia, and Middle East.

📊Fundamentals:
❧ Profit After Tax for the Q4 was up by 📈7% QoQ to Rs.52 Cr.
❧ Net sales of the company increased by 5.86% to Rs.300.57 Ct compared to the previous quarter.
❧ EBITDA grew by 6.1% QoQ while 📈39% YoY to Rs.81.58 Cr.
❧ Company had 4168 employees with a net addition of 147 people in the recent quarter.
❧ The IT company added 11 new clients in the Q4 making its total tally to 206.
❧ Company executive mentioned that company is having a growth of 40.9% in constant currency.
❧ Utilization rate stood at📈 79.4% against 81% in the previous quarter.
❧ With the high attrition rates in the big IT firms company managed to add employees in this talent crunch period.

📊Techicals:
❧ On the charts the stock is moving into a converging channel as shown in the image.
❧ Stock has taken a major support with volumes from near Rs.856.
❧ It has also moving above its 📈 10 EMA and nearing to 50 DMA.
❧ RSI stood near 50 showing the streght gained in the last few sessions.
❧ With RSI moving above 60 one can initiate positions above 1008 for targets of Rs.1058 and 1161 with SL of Rs.941

Disclaimer: The information mentioned above is only for educational purposes. Kindly contact your financial advisor before trading/investing 💰

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