Happiest Minds Stock Falls 10% After ITC Merger Announcement

Happiest Minds Technologies' stock has fallen by 10% after ITC Infotech announced plans to acquire and merge with the company.

Analyst Hitesh Rathi believes this could be a buying opportunity, as the stock has shown signs of forming a medium-term base.

The stock has been underperforming since 2021, dropping from around Rs 1,500 to nearly Rs 400.

Rathi points to strong support in the Rs 330-340 range and a bullish double-bottom retest as positive signs.

However, he advises caution and recommends a strict stop loss in the Rs 330-335 range.

The next move in the stock will depend on whether this support level holds.