BusinessLine says it advised booking profits in Happiest Minds in July 2021
BusinessLine says the IT services stock traded at ₹1,494.15 in July 2021 after rising more than eightfold from its IPO price.
TLDR
BusinessLine is revisiting bl.portfolio’s July 2021 recommendation that investors “book profits” in Happiest Minds Technologies. The publisher says the company was executing well, but its stock had risen more than eightfold from its IPO price. It cites valuations at the time of about 119 times FY22 earnings and an enterprise-value-to-revenue multiple of 22 for FY22.
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