Happiest Minds Technologies’ stock fell 9.5% in early trade on Tuesday in the wake of a huge ₹1,076 crore block deal. In early dealings today, almost 1.27 crore shares, or 8.3 percent of the company’s stock, changed hands at an average price of ₹847 per share.
The buyers and sellers of this block deal were not immediately identified, but prior media reports indicated that Ashok Soota, the executive chairman and promoter of Happiest Minds, was expected to offload a six per cent share in the firm through a block deal.
The stock dropped to ₹830.20, the day’s low, by as much as 9.5 per cent. It is now more than 18% away from its 52-week high, which was reached on July 17, 2023. Since March 28, 2024, when it reached its 52-week low of ₹738.05, it has increased 12.5 per cent.
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