India's Mphasis jumps on upbeat Q1 results

Mphasis

26/07/2024 07:15

** Shares of Mphasis  MBFL.NS  jump 7.4% to 3,055.20 rupees;
top pct gainer on IT index  .NIFTYIT  which is up ~2%
    ** IT firm's Q1 rev climbs 5.2%; profit grows 2%
    ** "Despite multiple challenges, tech spend seen as a
strategic priority" - company
    ** Mean rating of 29 analysts is "hold"; median PT is 2,425
rupees - LSEG data
    ** Stock up ~12% YTD vs 15% climb in IT index
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))