Home / Markets / Stock Markets /  This IT stock is up 600% from IPO price in 8 months. Should you still buy?

Happiest Minds share price today is quoting 1208 per stock at NSE — logging around 625 per cent public issue premium. Happiest Minds public issue was listed at BSE and NSE on 17th September 2020 and the issue price was fixed at 165 to 166. So, those who subscribed the IPO and hold it after the listing, they have registered over 600 per cent listing premium. In the last one month, Happiest Minds shares have jumped 35 per cent while in the last six months, the technology stock have delivered more than 250 per cent returns to its share holders. However, if we go by the stock market experts, the stock still holds potential to further scale. They recommended retail investors to buy Happiest Minds shares on any major fall as it has strong support at 1,000 levels.

Speaking on the fundamentals of Happiest Minds that helped the success of the IPO listing and then sharp rise in the shares post-listing Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Happiest Minds Technologies has strong business model at the OTT platform. It is in the cloud business too. The company has strong client base that includes Amazon and Netflix. This rise in the tech counter is further expected post-Covid-19 restrictions as there will be huge investment coming into the cloud service and OTT platform. So, any major dip around 1,000 in the counter should be seen as a buying opportunity for long-term."

Sharing Happiest Minds share price target in long-term Ravi Singhal, Vice Chairman at GCL Securities said, "The counter is a portfolio stock and one can still buy the counter for 12-18 month target of 2,000 to 2,100."

Happiest Mind share price has been breaking records since its listing. The stock was listed at 351 at the BSE — logging 111 per cent listing premium, doubling investors' money in single trade session. D-Mart operator Avenue Supermarts and IRCTC also fall in the list as they too had delivered more than 100 per cent listing gains to its IPO subscribers.

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