IT services firm Happiest Minds Technologies made a bumper listing on Thursday. The issue was subscribed 151 times, so could be 151 percent gains, 127 percent gains and counting as of now.
The Street is so bullish about the stock as 100 percent revenue is coming from the digital space and 20 percent compound annual growth rate (CAGR) is what the company as shown. However, the most important one is the person behind this venture which is Ashok Soota. He was the CEO at Wipro and had a very successful stay at MindTree.
The assumption is that while from the one year point of view, things look expensive but this is a concept stock and you got to look at - if this CAGR sustain over five years, perhaps it is not expensive.