Happiest Minds Technologies jumped 6.39% to Rs 632.1, extending its winning run to fifth consecutive trading session.Shares of Happiest Minds zoomed 22% in five trading sessions from its previous closing low of Rs 517.8 on 25 March 2021. The counter hit a record high of Rs 675 in intraday today. The stock has zoomed 121% from its 52-week low of Rs 285.55 recorded on 5 November 2020.
Meanwhile, the S&P BSE Sensex tumbled 1042 points or 2.08% to 48,987.83.
On the technical front, the stock s RSI (relative strength index) stood at 74.52. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 472.76 and 402.89 respectively. These levels will act as crucial support zones in near term.
Happiest Minds Technologies rose 1.38% to Rs 549.1 after the IT company said that it has entered into a partnership with Ilantus Technologies to enhance its identity and access management capabilities.The partnership enables Happiest Minds to manage and safeguard an organization s intellectual property from Identity and Access theft while enhancing their risk and regulatory governance landscape.
The partnership with Ilantus is in line with the vision to strengthen the Identity and Access Management within organizations by leveraging technologies such as Artificial Intelligence and Machine learning to have comprehensive visibility to the vulnerabilities arising from Identity and Access exposure from internal and external factors. As a reseller and partner of Ilantus Technologies, Happiest Minds is committed to minimizing the risk factor arising from identity and access thefts while improving customer experience, the company said in a statement.
Read more about India Ratings revises ratings of Happiest Minds to IND A- on Business Standard. Happiest Minds Technologies (HMTL) said that India Ratings and Research (Ind-Ra) had upgraded the company s long-term issuer rating to IND A- from IND BBB+ and maintained positive outlook on the same.
Read more about Happiest Minds hits record high; soars 60% in ten days on Business Standard. Happiest Minds Technologies jumped 4.26% to Rs 560.5, extending its winning run to tenth consecutive session.
A Made in India contender for WhatsApp
On January 10, Zoho Founder Sridhar Vembu had tweeted that his team is working on a Made in India instant messaging app - Arattai.
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Ever since Facebook-owned WhatsApp released a privacy update to its users a month ago, the move has drawn the ire of many users across the world, including India.
Closer home, India’s very own Made in India instant messaging app a new B2C app by Zoho called Arratai, meaning chit-chat in Tamil has picked up significant buzz, crossing 50,000 downloads on Google Play Store even before its formal launch.