Tag: mphasis

Today (11th June 2021)Shares of information technology (IT) companies were in demand on the bourses with Wipro and Tech Mahindra hitting all-time highs, while Tata Consultancy Services (TCS) and Infosys were quoting close to their respective record highs on the BSE. Besides Wipro and Tech Mahindra, a total of 10 stocks including Mastek, Mindtree, Happiest Minds Technologies, Mphasis, and Coforge too hit their new highs in Friday's intra-day deals.TCS, meanwhile, gained 3 percent to quote at Rs 3,309, while Infosys was up 2 percent at Rs 1,451.55. TCS had hit a record high of Rs 3,358 on April 9, 2021, and Infosys had touched a high of Rs 1,480 on April 12. Among other individual stocks, Tech Mahindra hit a record high of Rs 1,082, up 2 percent on the BSE, surpassing its earlier high of Rs 1,081.35 touched on January 11, 2021. In the past one week, the stock has gained 6 percent. Read more

Carlyle Group has emerged as the sole bidder to acquire Blackstone Group-owned Mphasis in what would be the largest buyout in the Indian IT industry, according to some sources. The offer to buy Blackstone’s controlling 56.12% stake is believed to be at Rs 1,450-1,500 a share—lower than Mphasis' closing share price of Rs 1,701.70 on 23rd Feb.2021. The transaction that will lead to a change of control will also trigger an open offer for an additional 26% shareholding of the company. At the higher end of Carlyle’s bid, Blackstone will receive Rs 15,730 crore (more than $2 billion) for its stake in Mphasis—a 12% discount to its current holding valued at Rs 17,838 crore. Depending on the success of the open offer, Carlyle might have to shell out another Rs 7,400 crore based on the 60-day average price of Rs 1,538 a share. Read more

Shares of Mphasis rallied 20 per cent to Rs 1,174.7,hits fresh 52 Week high on the BSE on Friday after the company’s April-June quarter (Q1FY21) earnings came in-line with Street estimate. The company reported a 3.9 per cent increase in consolidated net profit at Rs 275.1 crore in the June 2020 quarter. Its net profit stood at Rs 264.6 crore in the year-ago period, Mphasis said in a regulatory filing. The company’s revenue from operations grew 10.9 per cent to Rs 2,288.2 crore in the quarter under review from Rs 2,062.5 crore in the year-ago period. The company announced new TCV (total contract value) wins of USD259m in 1QFY21 in Direct International. This is the highest ever TCV win for a quarter for Mphasis and comprises one large deal win of over USD100m TCV. Read more