HAPPSTMNDS

Sept 23 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• SEES NEGLIGIBLE IMPACT FROM H-1B VISA FEE HIKE

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** Shares of Happiest Minds Technologies HAPP.NS rise as much 6.6% to 641 rupees

** IT consultancy and services firm posts Y/Y rise in June-qtr consol profit and rev

** HAPP rated "buy" on average by 5 analysts; median target price is 672 rupees – data compiled by LSEG

** Stock up 13% YTD

(Reporting by Rudra Pratap Singh in Bengaluru)

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June 12 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• HAPPIEST MINDS APPOINTS ANAND BALAKRISHNAN AS CHIEF FINANCIAL OFFICER

Source text: ID:nPreXV9rVa

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March 26 (Reuters) - HAPPIEST MINDS TECHNOLOGIES HAPP.NS:

• HAPPIEST MINDS CHAIRMAN: EXPECT HEALTHY ORGANIC REVENUE GROWTH IN FY26, FY27

• HAPPIEST MINDS CHAIRMAN: FY26, FY27 ORGANIC REVENUE GROWTH TO BE IN DOUBLE DIGITS

• HAPPIEST MINDS CEO: TO ANNOUNCE NEW ORGANISATIONAL STRUCTURE IN NEXT 6-8 WEEKS

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March 20 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• ASHOK SOOTA RE-DESIGNATED AS CHAIRMAN & CHIEF MENTOR

• JOSEPH VINOD ANANTHARAJU RE-DESIGNATED AS CO-CHAIRMAN & CEO

Source text: ID:nBSE7HBvXm

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March 19 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• HAPPIEST MINDS TECHNOLOGIES LTD - ASHOK SOOTA APPOINTED CHAIRMAN

• HAPPIEST MINDS TECH - NAMES JOSEPH ANANTHARAJU AS CEO

• HAPPIEST MINDS TECH - NAMES VENKATRAMAN NARAYANAN AS MD, CFO

Source text: ID:nBSE9spdlw

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Feb 19 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• INTRODUCES PROPRIETARY GENAI RESEARCH COMPANION

Source text: ID:nBSE8RNKkR

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** Happiest Minds Technologies HAPP.NS rises 3.3% to 719.30 rupees

** IT consulting and services co says it would buy entire Middle East business of Gavs Technologies for $1.7 mln

** Says acquisition will consolidate co's position within certain existing customers and grow its presence in Middle East

** Around 842,015 shares traded, 1.4x the 30-day avg

** HAPP fell 18% in 2024

(Reporting by Vijay Malkar)

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Jan 15 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• COLLABORATES WITH COCA-COLA BEVERAGES VIETNAM

Source text: ID:nBSE7Rm9gh

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** Shares of Happiest Minds Technologies HAPP.NS are down 2.5%, hitting their lowest level since April 1

** IT consultancy and services firm posted 12.5% y/y drop in Q1 consol profit

** Stock on track to fall for fourth straight session, dropping around 3% in the period

** Nearly 1.2 mln shares traded, about 2x their 30-day avg

** HAPP down 15.8% so far in 2024

(Reporting by Nishit Navin)

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** Shares of IT firm Happiest Minds Technologies HAPP.NS fall ~7% to 850 rupees

** Co's shares traded in 30 blocks at 838.00-849.55 rupees/share, lower than Monday's close of 917.35 rupees, as per LSEG data

** According to media reports, co's promoter and executive chairman, Ashok Soota initiated a block deal to sell 6% stake in co

** Stock set to snap a two-day winning streak, if trend holds

** Including session's losses, stock down ~5.5% YTD

(Reporting by Yagnoseni Das in Bengaluru)

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By Sai Ishwarbharath B

BENGALURU, May 22 (Reuters) - Mid-tier firms in India's $254 billion information technology sector took market share from industry goliaths in recent quarters as clients curtailed discretionary spending amid inflationary pressures and economic uncertainty, analysts said.

Unlike their larger rivals such as Tata Consultancy Services TCS.NS and Infosys INFY.NS, mid-tier IT firms tend to focus on short-term deals aimed at helping clients cut costs rather than chase large-scale projects.

The practice has paid off in an environment of slowing demand in prominent markets such as North America and Europe.

LTIMindtree LTIM.NS, Coforge COFO.NS, Mphasis MBFL.NS and Persistent Systems PERS.NS are "increasingly viewed as challengers in (winning) Fortune 500 accounts, aiding the share gain process," Kotak Institutional Equities said.

The smaller companies could outperform their larger rivals further once discretionary spending improves, Kotak analysts Kawaljeet Saluja, Sathishkumar S and Vamshi Krishna said.

This should set the mid-tier IT firms up well as they try to win more budget-conscious clients in an economic backdrop where U.S. interest rates are expected to stay "higher for longer". Industry body Nasscom estimated overall revenue growth more than halved to 3.8% last financial year.

"In the current macro environment, clients are increasingly looking at service providers (that) deliver services at lower and predictable costs with better business outcomes," said Avinash Baliga, partner at consulting firm Avasant.

Persistent Systems CEO Sandeep Kalra and Mphasis CFO Manish Dugar confirmed the market share gains. India's larger IT firms did not respond to Reuters' requests seeking comment.

"We are able to hold our own and win against the larger piers as clients are looking for competency and not scale," Dugar told Reuters.

The market share of India's top five IT firms fell 17 basis points in 2023, reflecting the inroads made by the mid-tier IT firms, according to BNP Paribas data shared exclusively with Reuters. However, the top five IT firms still owned 88.35% of the market as of December 2023 among the top 10 firms.

On the stock market, share prices of Mphasis and Persistent Systems advanced 23.7% and 42.5% respectively in the last 12 months compared to a 16% gain in the broader Nifty IT Index.

In April, Infosys forecast fiscal 2025 revenue growth between 1% and 3% in constant currency terms, while most analysts had expected it to be at least in the range of 2% to 5%.

"Due to the sheer size they have reached, larger players have given muted guidance," said Ashok Soota, founder of mid-tier IT firm Happiest Minds Technologies HAPP.NS , which also gained market share. "We need to be humble about this as (our) market share is (relatively) small on the grand total."

(Reporting by Sai Ishwarbharath B; Editing by Dhanya Skariachan and Shri Navaratnam)

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May 16 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• PARTNERS WITH SOLVIO

Source text for Eikon: ID:nBSE8mFlKT

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May 9 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• UNIT IN USA EXECUTED AGREEMENT TO PURCHASE 100% MEMBERSHIP INTEREST IN AUREUS TECH SYSTEMS LLC

• AGREEMENT FOR CASH CONSIDERATION OF $8.5 MILLION

• ACQUISITION IS EXPECTED TO BE COMPLETED BEFORE END OF JUNE 2024

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** Shares of Happiest Minds HAPP.NS up 2.2% at 823.10 rupees

** IT consultancy and services firm reported 25% YoY rise in Q4 consol profit; rev from ops up ~10% YoY

** Trading vol is ~5x the 30-day avg, stock's busiest day in over a month

** Stock trims YTD losses to ~7%; it gained ~2% in 2023

(Reporting by Kashish Tandon in Bengaluru)

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April 25 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• EXECUTED A SHARE PURCHASE AGREEMENT TO ACQUIRE 100% EQUITY INTEREST IN SHARE CAPITAL OF PURESOFTWARE TECHNOLOGIES

• UPFRONT CONSIDERATION ON CLOSING 6.35 BILLION RUPEES

• DEFERRED CONSIDERATION OF UPTO 1.44 BILLION RUPEES

• DEFERRED CONSIDERATION PAYABLE AT THE END OF FY25 ON ACHIEVEMENT OF SET PERFORMANCE TARGETS

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April 19 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• EXECUTED SHARE PURCHASE AGREEMENT TO ACQUIRE 100% STAKE IN MACMILLAN LEARNING INDIA

• COST OF ACQUISITION 45 MILLION RUPEES

Source text for Eikon: ID:nBSE70FL7X

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April 16 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• DEVELOPS GENAI CHATBOT FOR HAPPIEST HEALTH

Source text for Eikon: ID:nBSE8Jfbt5

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April 15 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• MINDSCULPT ANALYTICS ENGAGES HAPPIEST MINDS TO BUILD ADVANCED AI MEDICAL PREVENTIVE & DIAGNOSTIC SOLUTIONS

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Feb 29 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• HAPPIEST MINDS PARTNERS WITH SECUREWORKS

Source text for Eikon: ID:nBSEcdlBVd

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** Shares of Happiest Minds Technologies HAPP.NS are up ~4% in heavy vol

** IT services firm reorganises its vertical structure with new industry groups including industrial, manufacturing and banking, financial services and insurance

** Co says rejig to help achieve $1 bln revenue target by 2031

** Stock set for its best day in eight months, if trend holds

** HAPP sees most active session of 2024 so far, trading vols more than 4x the 30-day avg

** Stock down ~3% YTD after rising a marginal 1.7% in 2023

(Reporting by Nishit Navin in Bengaluru)

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Feb 15 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• ANNOUNCED ITS STRATEGIC PARTNERSHIP WITH SOROCO, AN AI CO

Source text for Eikon: ID:nBSE2TYZjq

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Jan 17 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• INDIA'S HAPPIEST MINDS TECHNOLOGIES LTD DEC-QUARTER CONSOL PROFIT 596.2 MILLION RUPEES VERSUS PROFIT 575.8 MILLION RUPEES

• HAPPIEST MINDS TECHNOLOGIES LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 4.10 BILLION RUPEES VERSUS 3.67 BILLION RUPEES

Source text for Eikon: ID:nBSE1dsmcz

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** HDFC Securities (HSIE) initiates coverage IT services firm Happiest Minds Technologies HAPP.NS with "add" and a PT of 935 rupees

** The PT represents a premium of 11.4% to stock's last close on Monday

** HAPP has strong partnerships with high-growth platforms and is catching up with larger peers - HSIE

** Adds, co's margin profile boosted by lowest cost of delivery and low dependence on sub-contractors

** Brokerage expects HAPP's revenue to grow at 21% CAGR over FY24-26

** Faster recovery in discretionary spending in the sector and value accretive acquisition ahead can be positive triggers - brokerage

** Shares of HAPP closed down 0.19% at 837.50 rupees on Tuesday

** Stock down almost 5% YTD

(Reporting by Kashish Tandon and Ashish Chandra in Bengaluru)

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** Shares of Happiest Minds Technologies HAPP.NS down 2.4% at 840 rupees

** The IT services firms reports nearly 2% Y/Y fall in Sept-qtr consol profit, hurt by a near 29% jump in employee costs

** Revenue for the qtr rose 14.4%

** But company also cuts FY organic rev growth forecast to 12%; it had earlier forecast 25% growth, without distinction between organic and inorganic

** Most IT firms have revenue struggles as a weak macro environment prompts clients to delay decision making, cut back, or even cancel, contracts

** HAPP is down 4.7% YTD, while the Nifty IT index .NIFTYIT is up 10.4%

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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May 8 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• INDIA'S HAPPIEST MINDS TECHNOLOGIES MARCH-QUARTER CONSOL PROFIT 576.6 MILLION RUPEES VERSUS PROFIT 521.1 MILLION RUPEES

• HAPPIEST MINDS TECHNOLOGIES MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 3.78 BILLION RUPEES VERSUS 3.01 BILLION RUPEES

• FINAL DIVIDEND OF 3.40 RUPEES PER SHARE

Source text for Eikon: ID:nBSEbLJfXP

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April 13 (Reuters) - Happiest Minds Technologies Ltd HAPP.NS:

• HAPPIEST MINDS TECHNOLOGIES LTD - HAPPIEST MINDS & NIELSENIQ BRANDBANK PARTNER TO SOLVE PRODUCT DATA & SHOPPER EXPERIENCE CHALLENGES

Source text for Eikon: ID:nBSE9qFWy8

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