Mphasis gains on concluding sale of certain domestic business to KDMSL

03 Sep 2015

Mphasis is currently trading at Rs. 424.90, up by 4.15 points or 0.99% from its previous closing of Rs. 420.75 on the BSE.

The scrip opened at Rs. 425.00 and has touched a high and low of Rs. 425.90 and Rs. 419.60 respectively. So far 2027 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 463.00 on 03-Sep-2014 and a 52 week low of Rs. 331.00 on 04-Feb-2015.

Last one week high and low of the scrip stood at Rs. 427.00 and Rs. 410.85 respectively. The current market cap of the company is Rs. 8887.94 crore.

The promoters holding in the company stood at 60.49% while Institutions and Non-Institutions held 28.62% and 10.89% respectively.

Mphasis has concluded the sale of certain domestic business to Karvy Data Management Services effective September 01, 2015. The company had on July 10, 2015 signed a definitive agreement to transfer a portion of its domestic business, subject to regulatory approvals, to Karvy Data Management Services (KDMSL) - a provider of business and knowledge process services in India. With this agreement, over 2000 employees would be transferred to KDMSL.

Mphasis 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