The valuation is still heady in comparison to global peers and there is room for further correction in the stock
Happiest Minds Technologies could underperform despite a winning performance.
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
Highlights Strong long-term outlook Excellent performance in H1 of FY23 Margin resilient amid wage revision in Q2 Supply-side challenges waning Macro concerns could impact demand for a few quarters Excellent long-term play to be added on correction We had advised earlier that Happiest Minds Technologies (CMP: Rs 848, Market Cap: Rs 12,457 crore) could underperform despite a winning performance. The same has played out with the stock declining 11 percent in the past three months against a 4 percent rally in the Nifty and 5 percent…
