Mphasis advances on buzz of NEC’s talk to acquire HP’s majority stake in company

14 Feb 2014

Mphasis is currently trading at Rs. 385.00, up by 4.75 points or 1.25 % from its previous closing of Rs. 380.25 on the BSE.

The scrip opened at Rs. 384.30 and has touched a high and low of Rs. 393.05 and Rs. 378.05 respectively. So far 63093 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 513.00 on 30-May-2013 and a 52 week low of Rs. 342.40 on 14-Feb-2013.

Last one week high and low of the scrip stood at Rs. 386.75 and Rs. 371.20 respectively. The current market cap of the company is Rs. 8090.02 crore.

The promoters holding in the company stood at 60.49%, while Institutions and Non-Institutions held 31.22% and 8.29% respectively.

Japan-based software solutions and products major NEC is reportedly in initial talks to buy out HP’s majority stake in Mphasis.  With this buy NEC is apparently seeking entry into Indian IT service space. Further, the company is also open to offering premium to HP for its stake from its Current Market price (CMP).Presently, HP holds 60.49% stake  in Mphasis, which is valued at around Rs 4800 crore at CMP.

Mphasis is a $1 billion global service provider, delivering technology based solutions to clients across the world. Mphasis services clients in banking and capital markets, insurance, manufacturing, communications, media & entertainment, healthcare & life sciences, transportation and logistics, retail and consumer packaged goods, energy & utilities, and governments around the world.

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Mphasis Share Price

1788.95 -8.90 (-0.50%) May 14, 18:01
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323