Mphasis gains 11%, HP hires UBS to manage stake sale in co

Media report suggested that promoter company Hewlett-Packard (HP) has hired UBS to manage stake sale in Mphasis.

Shares of Mphasis , the midcap IT company, rallied nearly 11 percent intraday on Wednesday after a media report suggested that promoter company Hewlett-Packard (HP) has hired UBS to manage stake sale in the company.

HP, which holds 60.49 percent stake, is the largest client of the company and contributes 40 percent of its revenues. The US-headquartered technology major's stake in Mphasis is valued at more than Rs 5,000 crore at current market price.

"Infotech companies and private equity players have shown interest in buying Hewlett-Packard's stake in Mphasis. Prominent among these are Japanese technology companies NEC and Fujitsu," says the report.

For the year ended October 2013, the company had reported profit of Rs 743.80 crore on revenues of Rs 5,796.30 crore while for five months ended March 2014, its profit stood at Rs 302.68 crore on revenues of Rs 2593.83 crore.

Today it says a meeting of the board of directors of the company will be held on July 30, to approve the audited financial results of Mphasis and Group for the quarter ended June 30, 2014 (Q1).

At 13:49 hours IST, the stock was quoting at Rs 449, up 7.03 percent amid large volumes on the BSE.

Anda sedang membaca artikel tentang

Mphasis gains 11%, HP hires UBS to manage stake sale in co

Dengan url

https://sehatgayahidup.blogspot.com/2014/07/mphasis-gains-11-hp-hires-ubs-to-manage.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Mphasis gains 11%, HP hires UBS to manage stake sale in co

namun jangan lupa untuk meletakkan link

Mphasis gains 11%, HP hires UBS to manage stake sale in co

sebagai sumbernya