Happiest Minds shares fall 12% after ITC Infotech merger announcement

Happiest Minds Technologies shares fell as much as 12.2% on Tuesday after the company announced its merger with ITC Infotech. The stock opened at ₹407.50, near its previous close of ₹407.15, but then fell to an intraday low of ₹360.90 on the BSE. Founder Ashok Soota and his firm will sell a 22.1% stake to ITC Infotech for ₹1,329.72 crore.