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    Happiest Minds, whose stock more than doubled from IPO price, confident of 20% long-term growth

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    Happiest Minds, whose stock more than doubled from IPO price, confident of 20% long-term growth

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    Happiest Minds shares today rose nearly 10 percent in trade after the company posted a strong quarter with standalone net sales rising 12.5 percent on a year-on-year basis while net profit jumped 95.6 percent.

    Happiest Minds shares today rose nearly 10 percent in trade after the company posted a strong quarter with standalone net sales rising 12.5 percent on a year-on-year basis while net profit jumped 95.6 percent.
    In an interview with CNBC-TV18, Joseph Anantharaju, Executive Vice Chairman & CEO of Product Engineering Services and Venkatraman Narayanan, MD and CFO, said that the company was confident of holding on to its 20 percent revenue growth guidance that it had outlined during its IPO last year.
    The Happiest Minds stock listed at Rs 351 in September 2020, more than double its issue price of Rs 165, fuelled by an investor rush into shares of technology companies. The stock today trades around Rs 400.
    Narayanan added that the company was also hopeful of maintaining 22-24 percent profit margin despite letting go of some cost savings as employees return to office in the next fiscal and travel picks up.
    Happiest Minds is seeing business traction across all geographies, including recent geographies such as Middle East and Australia – besides traditional markets such as US, Europe and India, the company management said.
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