Happiest Minds shares fall over 10% after ITC Infotech merger, promoter stake sale
Heavy selling followed disclosures on the proposed transaction, with the stock touching ₹356.95 before recovering marginally from its intraday low
Shares of Happiest Minds Technologies Limited were trading sharply lower on Tuesday, down 10.54 per cent at ₹364.05 around 12.42 pm, following the company's announcement of a major promoter stake sale and a merger scheme with ITC Infotech India Limited on Monday, August 31. The stock opened at ₹404, reached a high of ₹404, and fell to a low of ₹356.95 during the session, shedding nearly ₹43 in intraday trade.
Sell-side pressure dominated, with 54.90 per cent of total quantity traded on the sell side against 45.10 per cent on the buy side, reflecting heavy participation from investors.
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- Happiest Minds shares fall 12% after ITC unveils stake buy, merger plan thehindubusinessline.com
