Happiest Minds plunges over 8% after 8.3% equity changes hands – What should be your strategy now?

Shares of Happiest Minds Technologies dropped over 8% to an intra-day low during early trade on Tuesday as 1.27 crore shares, or 8.3% equity, worth Rs 1,076 crore, changed hands in a large trade at an average price of Rs 847 per share. The share price fell 8.69%, hitting an intra-day low of Rs 837.55 on the NSE.

On Monday, June 24, CNBC-TV18 reported that the IT firm’s promoter and executive chairman, Ashok Soota, had initiated a block deal to sell a 6% stake in the company, with the total offer size amounting to Rs 754 crore.