July 15, 2024
Buy Unlisted shares

Buy Unlisted shares

HDFC Securities had an “Add” rating on the stock with a target price of Rs 900. The stock has a target price of Rs 900. The stock currently trades at Rs 884.20. Key metrics include a PE ratio of 54.07x, EPS of Rs 16.31, and a PB ratio of 9.7x.

Happiest Minds Technologies offers services in product engineering, managed cloud, consulting, GRC, MDR, OT Security, Cybersecurity, healthcare cybersecurity, and zero trust architecture. The company strongly focuses on digital business and has a large offshore workforce. Analysts have a consensus target average of Rs 1,116.50 for stock, representing an upside potential of around 33%. With a presence in diverse IT services segments and strong growth prospects, Happiest Minds Technologies appears to be a promising investment option.

As a small-cap IT company, Happiest Minds Technologies has generated strong growth and investor interest in recent years. With a market cap of Rs 13,516.67 crore as of March 31, 2024, the company is well-positioned to capitalize on the growing demand for digital transformation services across various industries.

Solid Financial Performance

The company reported a total income of Rs 442.50 crore for the quarter ending March 31, 2024, up 14.51% from last year. The company’s net profit after tax stood at Rs 17.98 crore in the latest quarter, showcasing its ability to translate revenue growth into profitability. The company’s key financial metrics are also impressive. As of March 31, 2024, Happiest Minds Technologies had a PE ratio of 54.07x, EPS of Rs 16.31, and a PB ratio of 9.0.7x. These figures suggest that the stock is trading at a premium valuation, reflecting market confidence in the company’s growth prospects.

Service Offerings

Happiest Mind Technologies offers a diverse range of IT services that allow the company to cater to clients’ evolving needs across various sectors, reducing dependence on any single industry or service line. The strong focus on digital business and its large offshore workforce give it a competitive edge in the market as more organizations are well-positioned to capture a significant share of a growing market.

Analyst Recommendation and Target Pricing

HDFC Securities’s “Add” rating on stock has a target price of Rs 900. The consensus target average of Rs 1,116.50 for stock reflects an upside potential of around 33%. This suggests the stock has room for further appreciation in the coming months. 

Yes Securities, another brokerage firm, initiated a buy rating on Happiest Minds Technologies with a target price of Rs 1,018 per share. The analysts believe that despite short-term challenges, the company has made significant strides in its service offerings and strongly focuses on digital business for future growth.

With its diverse offerings, Happiest Minds Technologies is focused on digital business and well-positioned to capitalize growing demand for IT services. Investors should conduct their due diligence and consider risk appetite before making investment decisions.

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