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Mphasis rallies 10% on FPIs stake buys from Blackstone

The stock rallied 10% to Rs 1,080 on the NSE in late noon deal

SI Reporter  |  Mumbai 


rallied 10% to Rs 1,080 on the National Stock Exchange (NSE) in late noon deals after the foreign portfolio investors (FPIs) bought stake in information technology (IT) company from the global private equity major

On Monday, offloaded 8% stake in mid-sized IT services exporter for a little over Rs 14.84 billion through an open market transaction.

through its unit Marble II Pte sold a total of 15.46 million shares, amounting to 8% stake of

As of March this year, the private equity giant held 60.38% stake in mid-sized IT services exporter.

Among the buyers of the shares are Nomura, and First State Investments (Hong Kong) Ltd.

Individually, International Small Company Fund bought over 2.81 million stocks of Mphasis, FSI (HK) picked up 2.44 million shares, TNTBC as the trustee of Noumra India Stock Mother Fund purchased 1.52 million scrips and Funds Ireland Public Ltd Co-India Equity Fund acquired 1.12 million shares, the NSE bulk deal data shows.

At 03:15 pm; the stock was up 9% at Rs 1,074 on the NSE, as compared to a marginal 0.01% decline in the Nifty 50 index. A combined 2.28 million shares changed hands on the counter on the BSE and NSE.

First Published: Tue, May 15 2018. 15:18 IST