MphasiS tumbles on reports Blackstone set to acquire the company at discount to prevailing market value

MphasiS lost 6.07% to Rs 461 at 12:04 IST on BSE on media reports that Blackstone may acquire the company at a substantial discount to its prevailing market value.

Meanwhile, the S&P BSE Sensex was up 165.33 points or 0.66% at 25,118.07.

On BSE, so far 21,000 shares were traded in the counter as against average daily volume of 30,149 shares in the past one quarter. The stock hit a high of Rs 477 and a low of Rs 458.30 so far during the day. The stock had hit a 52-week low of Rs 362.50 on 3 June 2015. The stock had hit a 52-week high of Rs 534 on 29 October 2015.

The large-cap company has equity capital of Rs 210.18 crore. Face value per share is Rs 10.

Media reports suggested that Hewlett-Packard (HP), which owns 60.4% in MphasiS, has in-principle accepted Blackstone's offer and entered into limited period exclusivity to close the deal-making.

On consolidated basis, MphasiS' net profit fell 5.99% to Rs 173.64 crore on 2.61% decline in net sales to Rs 1516.75 crore in Q3 December 2015 over Q2 September 2015.

MphasiS is a IT solutions provider, offering applications, business process outsourcing (BPO) and infrastructure services globally through a combination of technology knowhow, domain and process expertise.

Powered by Capital Market - Live News