Happiness is on steroids—in the Indian stock market, at least.
Even by the standards of the manic, liquidity-driven bull run underway on the bourses, Bengaluru-headquartered small-tier IT services company Happiest Minds Technologies is on a euphoric trip. Its initial public offering (IPO) last September was among the most successful in the Indian market—it was oversubscribed 151 times.
The stock more than doubled on listing and has continued its gravity-defying run. At Rs 540 ($7.5) apiece now, it has more than tripled till date from its IPO price of Rs 166 ($2.3).