Mphasis spurts despite buzz of HP’s stake sale plans

02 Jul 2014

Mphasis is currently trading at Rs. 449.75, up by 30.25 points or 7.21 % from its previous closing of Rs. 419.50 on the BSE.

The scrip opened at Rs. 430.10 and has touched a high and low of Rs. 464.90 and Rs. 430.00 respectively. So far 127966 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 465.45 on 03-Oct-2013 and a 52 week low of Rs. 361.95 on 03-Jul-2013.

Last one week high and low of the scrip stood at Rs. 429.15 and Rs. 410.00 respectively. The current market cap of the company is Rs. 9446.62 crore.

The promoters holding in the company stood at 60.49 % while Institutions and Non-Institutions held 30.61 % and 8.90 % respectively.

Hewlett-Packard (HP) is reportedly planning to sell its stake in the Bangalore-based information technology services company -- Mphasis. The US-headquartered technology major had given UBS the job of finding a suitor for Mphasis.

HP, through its wholly-owned subsidiaries--EDS Asia Pacific Holdings, EDS World Corporation (Far East) & EDS World Corporation (Netherlands)--holds 60.49% stake in Mphasis.

Mphasis, an HP Company, is a $1 billion global service provider, delivering technology based solutions across industries, including Banking & Capital Markets, Insurance, Manufacturing, Media & Entertainment, Telecom, Healthcare, Life Sciences, Travel & Transportation, Hospitality, Retail & Consumer Goods, Energy & Utilities, and Governments around the world.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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