Mphasis Ltd News
Nifty IT index slips 4%; TCS hits 52-week low, TechM, Persistent down 6%
The IT sector is witnessing weaker deal momentum and cautious client spending, according to analysts
 "Nifty IT index slips 4%; TCS hits 52-week low, TechM, Persistent down 6%")
Mphasis Q3 results: Net profit jumps 15% to Rs 428 crore, revenue up 7%
The company's consolidated net profit grew nearly 15 per cent to Rs 428 crore ($49.54 million) for the quarter ended Dec. 31 compared with analysts' expectations of Rs 426 crore
 "Mphasis Q3 results: Net profit jumps 15% to Rs 428 crore, revenue up 7%")
Mphasis gains 5% ahead of reporting Q3 results; check out more details
In Q2, Mphasis, the midcap information technology company, reported a net profit of Rs 423.3 crore for the second quarter of the financial year (Q2 FY25), growing 8 per cent year-on-year (Y-o-Y)
 "Mphasis gains 5% ahead of reporting Q3 results; check out more details")
Mphasis share pops 3% as Jefferies initiates with 'Buy', sees 21% upside
The northward move in Mphasis share price came after New York-based financial services company Jefferies initiated coverage with 'Buy' for a target price of Rs 3,460 per share
 "Mphasis share pops 3% as Jefferies initiates with 'Buy', sees 21% upside")
Nifty IT index hits record high on December 10: Here's what drove the rally
By 11:11 AM, the Nifty IT index had come off its peak but was still trading 0.82 per cent higher at 45,199.40. In comparison, the broader Nifty50 index was up a modest 0.11 per cent at 24,646.30
 "Nifty IT index hits record high on December 10: Here's what drove the rally")
Mphasis stock gains over 3% on signing pact with MoneyGram Haas F1 Team
Shares of Mphasis rose 2.54 per cent at Rs 68.95 per share on the BSE in Friday's intraday deals
 "Mphasis stock gains over 3% on signing pact with MoneyGram Haas F1 Team")
Nifty IT index down 2% on profit booking; TCS, Infosys, Wipro slip up to 3%
At 02:31 pm; Nifty IT index, the top loser among sectoral indices, was down 2.3 per cent, as compared to 0.43 per cent decline in the Nifty 50.
 "Nifty IT index down 2% on profit booking; TCS, Infosys, Wipro slip up to 3%")
Earnings disappointment a catalyst for market correction: Analysts
The developments come at a time when the markets are already grappling with geopolitical developments in West Asia and the uncertainty surrounding the outcome of the US presidential polls
 "Earnings disappointment a catalyst for market correction: Analysts")
IT company Mphasis's Q2 net profit rises 8% Y-o-Y, deal value falls
Company says most of its contracts are now for work in artificial intelligence
 "IT company Mphasis's Q2 net profit rises 8% Y-o-Y, deal value falls")
Mphasis share price up 4% after Q2FY25 profit jumps over 8%; details here
The rise in Mphasis share price came after the company reported a healthy September quarter (Q2FY25) results.
 "Mphasis share price up 4% after Q2FY25 profit jumps over 8%; details here")
F&O Alert: FIIs net sell 3.5 lakh Nifty, Bank Nifty futures in just 3 days
Derivatives market update Oct 08: FIIs turn bearish on Indian stocks, long-short ratio in index futures dipped below 1 for the first time since August 14. Retail and proprietary trades turn bullish.
 "F&O Alert: FIIs net sell 3.5 lakh Nifty, Bank Nifty futures in just 3 days")
