India's Mphasis jumps 3% amid surge in IT stocks

Mphasis

26/05/2023 09:58

** Shares of Mphasis Ltd  MBFL.NS  rise as much as 3.03% to
1,992.45 rupees
    ** Stock among top gainers in information technology
(IT)index  .NIFTYIT  which is up 1.17%
    ** Rise in domestic IT stocks follows surge in technology
stocks in the U.S. on Thursday, fuelled by strong earnings from
chip maker Nvidia
    ** MBFL also announces a strategic partnership with a
conversational artificial intelligence (AI) platform Kore.ai
    ** Move to improve customer experience and employee
engagement for enterprise clients, says co
    ** Trading volume is 473,827 shares as of 2:17 p.m. IST,
1.1x the 30-day avg - Refinitiv data
    ** 26 analysts rate stock 'buy' or higher, three 'hold' and
two 'sell;' median PT is 2,822 rupees
    ** Of the 29 analysts tracking MBFL, 15 maintain "buy", six
suggest "sell" and eight recommend "hold"; median TP is 1,975
rupees 
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))