In the fourth quarter, Mindtree reported 9% growth in profits at Rs.198 crore. The company has seen a 1% fall in its operating margins and net profits margins in the latest quarter. The special dividend of Rs.20 declared by Mindtree will strip nearly Rs.320 crore out of the company. Even new client additions have fallen sharply in the latest quarter. The company is currently caught by in an open offer made by L&T Infotech and the fate of the hostile acquisition is not known. However, the price of the acquisition is closer to the high touched by the stock and if the deal goes through, you stand to benefit. One can look at a short term trade on the stock for upside returns of over 10% from current levels. Of course, it will all depend on the acquisition deal going through.