Happiest Minds falls 4% after 1% equity sold

Happiest Minds shares were down 3.49 percent at Rs 878.95 at 2.21 pm on the National Stock Exchange.

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Happiest Minds shares fell four percent on September 28, after one percent of the total equity changed hands in intraday trading. Nearly 15.5 lakh shares worth Rs 138 crore changed hands on the exchanges, reported CNBC TV18.

The average price at which the shares were exchanged was Rs 886 per share. The number of shares exchanged on the bourses on September 28 were five times more than the company’s monthly traded average.

Happiest Minds shares were down 3.49 percent at Rs 878.95 at 2.21 pm on the National Stock Exchange.

The stock has lost 10 percent in the last one year, and gained 14 percent in the last six months.

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The company had approved allotment of debentures for raising funds on September 26. The funds would be utilised towards general corporate purposes of the company, said Happiest Minds in an exchange filing. Happiest Minds would issue 3,500 debentures and the issue size would be 35 crore.

The company recently clarified to the exchanges that it has not changed its guidance for FY24. “Management will share its views and updates to the same in October while declaring results for Q2FY24,” it said in a filing dated September 21.

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