Indian IT firm Mphasis falls to near 2-year low

Mphasis

21/03/2023 08:55

** Shares of IT solutions provider Mphasis Ltd  MBFL.NS 
fall as much as 1.9% to 1,788.45 rupees, their lowest since May
24, 2021
    ** Co on track for third consecutive session of loss, if
trend holds
    ** About 457,800 shares change hands by 2:12 p.m. IST, 0.9x
the 30-day avg of 504,167 shares - Refinitiv data
    ** Relative strength index of the stock is 26, suggesting it
is oversold, as per Refinitiv data
    ** Stock continues to trade below 50-, 100- and 200-day
simple moving average
    ** Of the 28 analysts covering the stock, 13 have a "buy" or
"strong buy" rating, 11 recommend "hold" while four rate it at
"sell" or "strong sell"; median PT is 2,232 rupees 
    ** Stock down 7.6% so far this year as of last close vs 0.6%
fall in Nifty IT index  .NIFTYIT  


 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))