India's Mphasis gains on Q2 profit rise

Mphasis

17/10/2024 05:45

** Shares of Mphasis  MBFL.NS  rise 2% to 2,968 rupees
    ** Stock top gainer on Nifty IT index  .NIFTYIT , which is
up 0.63%
    ** IT firm reports 8% rise in both consolidated net profit
and rev from ops for Q2
    ** Co says broad-based pipeline growth across all verticals,
including core BFSI segment, with pipeline from America ops up
28% Y/Y
    ** More than 1.3 mln shares change hands, 1.8x its 30-day
avg
    ** Twenty-seven analysts covering the stock on avg have a
"hold" rating; median PT is 3,000 rupees - LSEG data
    ** Stock up 8% so far this year vs a ~20% gain in .NIFTYIT



($1 = 84.0120 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))