India's Mphasis drops on multiple block deals

Mphasis

10/06/2024 09:14

** Shares of Mphasis Ltd  MBFL.NS  down 3.4% at 2,389.70
rupees
    ** Around 30 mln shares change hands in 16 separate block
deals on Monday, all at a discount to previous close - NSE data
    ** In total, 33 mln shares traded in stock's busiest day on
record, vs 30-day avg volume of ~500,000 shares
    ** CNBC-TV18 late Friday reported MBFL's top shareholder
Blackstone would sell 10.6% stake via block deals on Monday
    ** Base price of 2,350 rupees per shr at a ~5% discount to
previous close of 2,471.95 rupees - report
    ** MBFL, Blackstone did not immediately respond to Reuters'
requests for comment
    ** Blackstone via BCP TOPCO IX owns 55.45% stake in MBFL -
exchange data
    ** Analysts tracking MBFL rate it "hold" on avg, in line
with most other stocks on 10-member Nifty IT  .NIFTYIT  index -
LSEG data
    ** Stock down ~13% in 2024, among biggest losers in Nifty IT
index


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))