MphasiS shares plummet 8 percent

By SiliconIndia   |   Thursday, February 25, 2010
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Bangalore: MphasiS, a provider of IT solutions and services has ended the trading amongst top losera of the day with a loss of Rs.61.95 (8.43 percent). The stock opened the account on higher not, but could not manage to continue to gain momentum throughout the day, and ended the day at Rs.673.35. In all 1,018,852 shares were traded throughout the day with current P/E ratio at 16.87. The stock has 52-week high value of Rs. 796 and low of Rs. 151.95. The stock chart for 52-weeks is given on left. MphasiS is engaged in providing a range of information technology solutions and services to meet the requirements of the financial services, retail, logistics and transportation, and technology. The company's operations relate to providing application development and maintenance (application) services, business process outsourcing (BPO) services and information technology outsourcing (ITO) services. The application services cover consulting, application development, testing and application maintenance services. The BPO services provide voice, transition-based services and knowledge-based processes. ITO covers a range of infrastructure management services and service/technical help desks. The Company's subsidiaries include MphasiS Corporation, MphasiS Deutschland GmbH, BFL Software Asia Pacific, MphasiS Australia, MphasiS (Shanghai) Software and Services and MphasiS Consulting. With 985,624 units of shares, Sundaram BNP Paribas Select Midcap holds the largest number of shares in MphasiS. Other IT companies also ended the day in red zone, with Hexaware Technologies, Cambridge Solutions and Tricom India slipping 0.69, 1.61 and 2.19 percent, respectively.
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