Mphasis gains on buyback plan

Mphasis rose 2.29% to Rs 1,202 at 10:08 IST on BSE after the company scheduled a board meeting on 7 August 2018 to consider a share buy-back proposal.

The announcement was made after market hours yesterday, 2 August 2018.

Meanwhile, the S&P BSE Sensex was up 261.19 points, or 0.7% to 37,426.35

On the BSE, 9,536 shares were traded in the counter so far, compared with average daily volumes of 53,000 shares in the past two weeks. The stock had hit a high of Rs 1,225 and a low of Rs 1,190 so far during the day. The stock hit a record high of Rs 1,237.30 on 25 July 2018. The stock hit a 52-week low of Rs 560 on 11 August 2017.

The large-cap company has equity capital of Rs 193.33 crore. Face value per share is Rs 10.

On a consolidated basis, Mphasis reported 10.57% rise in net profit to Rs 237.67 crore on 5.34% increase in total income to Rs 1786.75 crore in Q4 March 2018 over Q3 December 2017.

Mphasis is engaged in providing a suite of application development and infrastructure services and business process outsourcing solutions to clients around the world.

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