Happiest Minds Tech Shares Plunge 10% Following Merger Announcement
· Business · LiveMint, Economic Times
Happiest Minds Tech shares fell 10% to an intraday low of ₹366.20 on the BSE on Tuesday, 1 September, following the company's merger announcement with ITC Infotech. The company revealed on 31 August that it intends to merge with the wholly owned ITC subsidiary to create an AI-first global technology services enterprise with a revenue target of $1 billion by FY28. The combined entity aims to integrate Happiest Minds' expertise in AI, digital engineering, and cybersecurity with ITC Infotech's focus on SAP, cloud, and industry-specific solutions. The stock opened at ₹407.50, down from its previous close of ₹407.15, before the sharp decline.
Why it matters
The merger represents a significant consolidation in the Indian IT services sector, aiming to scale operations through combined AI and enterprise transformation capabilities.
Read the original report — LiveMint
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