After an impressive debut on the bourses, MindTree Consulting, an international IT and R&D Services Company, is up about 28% in the first half-an-hour of trade.After generating a demand of over Rs 23,300 crore through its through IPO, the shares of the Mindtree Consulting made a dream debut at Rs 662 with 56% premium on Dalal Street.
Today, the stock has soared to 900 levels. It is indeed one of the buzzing stocks this morning and is continuing to move up. What is the trigger for this sudden rise in the stock - is there some news on the anvil? Marketmen analyse.
Rajen Shah of Angel Broking feels that the valuations are getting absurd and that he would not want to pay so much for a stock like MindTree, which is not a frontliner vis-a-vis Infy, Wipro or Satyam. MindTree's market cap does not even stand at one-fourth the size of any of the IT biggies like Infosys.
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