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Mphasis turns ex-date for buyback; stock down 9%

The stock slipped 9% to Rs 970 on the BSE in early morning trade on Wednesday after the stock turned ex-date for the proposed buy-back.

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SI Reporter Mumbai
Shares of Mphasis slipped 9% to Rs 970 per share on the BSE in early morning trade on Wednesday after the stock turned ex-date for the proposed buy-back.

The information technology (IT) company has fixed October 25, 2018, as the record date to determine the shareholders eligible to participate in the buyback, shareholders, to whom the letter of offer and tender offer form will be delivered in relation to the buyback and entitlement of equity shareholders in the buyback.

The board at its meeting held on August 7, 2018, had approved buyback at a maximum price of Rs