Mphasis extends recent losses
(11:06, 09 Nov 2018)
The stock has fallen 6.68% in six trading session from its recent high of Rs 986.70 on 31 October 2018.

Meanwhile, the S&P BSE Sensex was up 12.70 points, or 0.04% to 35,250.38.

On the BSE, 8336 shares were traded in the counter so far compared with average daily volumes of 76,000 shares in the past two weeks. The stock had hit a high of Rs 940.40 and a low of Rs 912.15 so far during the day. The stock hit a 52-week high of Rs 1,278 on 3 September 2018. The stock hit a 52-week low of Rs 700 on 11 January 2018.

Meanwhile, Mphasis announced its acquisition of Stelligent Systems LLC, a technology services company specializing in DevOps automation on Amazon Web Services (AWS). The announcement was made on Thursday, 8 November 2018.

Headquartered in Reston, VA, Stelligent provides DevOps and DevSecOps solutions on AWS. The company is a premier consulting partner on AWS Partner Network (APN) and holds both AWS DevOps and financial services expertise in deploying their customers' applications on AWS with greater speed, agility, and security. The acquisition is an all-cash deal valued at $25 million.

On a consolidated basis, Mphasis' net profit rose 4.89% to Rs 270.93 crore on 5.20% increase in net sales to Rs 1,914.84 crore in Q2 September 2018 over Q1 June 2018.

Mphasis is an Information Technology (IT) solutions provider specializing in cloud and cognitive services.

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