Tuesday, 15 May 2018

Mphasis rallies 10% on FPIs stake buys from Blackstone

The stock rallied 10% to Rs 1,080 on the NSE in late noon deal. Mphasis rallied 10% to Rs 1,080 on the National Stock Exchange (NSE) in late noon deals after the foreign portfolio investors (FPIs) bought stake in information technology (IT) company from the global private equity major Blackstone. On Monday, Blackstone offloaded 8% stake in mid-sized IT services exporter Mphasis for a little over Rs 14.84 billion through an open market transaction.

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