Mphasis soars on getting nod to invest in Mphasis Europe BV, Mphasis Corporation
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Mphasis is currently trading at Rs. 2350.45, up by 117.20 points or 5.25% from its previous closing of Rs. 2233.25 on the BSE.
The scrip opened at Rs. 2237.70 and has touched a high and low of Rs. 2370.70 and Rs. 2237.70 respectively. So far 25530 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2835.00 on 19-Feb-2024 and a 52 week low of Rs. 1,753.00 on 27-Apr-2023.
Last one week high and low of the scrip stood at Rs. 2370.70 and Rs. 2210.00 respectively. The current market cap of the company is Rs. 42281.30 crore.
The promoters holding in the company stood at 55.45%, while Institutions and Non-Institutions held 39.47% and 5.08% respectively.
Mphasis has received approval for investment in the equity share capital of Mphasis Europe BV, a wholly owned subsidiary of the Company, up to $80 million, in addition to extending Corporate Guarantee upto $150 million. This investment will enable Mphasis Europe BV inter alia in repayment of borrowings. The investment will be made by end of June 2024.
Besides, the company has received approval for investment in common stock of Mphasis Corporation, a wholly owned subsidiary of the company, up to $70 million. This investment will enable Mphasis Corporation inter alia in repayment of borrowings. The investment will be made by end of December 2024.
The Board of Directors of the Company, at their meeting held on April 25, 2024 have considered and approved the same.
Mphasis is a global service provider, delivering technology-based solutions across many sectors.
