Shares of Bengaluru-based Happiest Minds Technologies tumbled nearly 9 per cent on Tuesday, September 1, 2026, after the company said ITC Infotech, a wholly owned subsidiary of diversified conglomerate ITC Ltd, will acquire a 22.106 per cent stake in the company. The stock opened in the green at Rs 407.50 against the previous close of Rs 407.15. However, it saw profit booking at these levels and fell to touch the intraday low of Rs 357.50, down Rs 49.65 or 12.19 per cent from the previous close. Last seen, the stock was trading at Rs 359, and the market cap of the company stood at Rs 5,466.67 crore.
As a precursor to the merger, ITC Infotech will acquire a 22.106 per cent stake from Happiest Minds promoter Ashok Soota and Ashok Soota Medical Research LLP. It will merge with the Bengaluru-based company to create an AI-first enterprise with a USD 1 billion turnover by FY28.
ITC shares gain
Meanwhile, shares of ITC gained nearly 5 per cent today. The stock opened at Rs 261.15, with a gain of Rs 4.9 or 1.91 per cent from the previous close of Rs 256.25 on the BSE. The counter gained further to touch the intraday high of Rs 269, representing a gain of 4.98 per cent from the last closing price. Last seen, the stock was trading at Rs 264.40
