MphasiS shares down on HP revenue concerns

Shares in MphasiS Ltd down 2.9%. Analysts say there are concerns over revenues that the company gets from Hewlett-Packard .

HP said it would split into two listed companies and eliminate another 5,000 jobs as part of its turnaround plan.

HP owns 60% stake in MphasiS.

Separately, Macquarie downgraded the stock to "underperform" from "outperform".