Trends on SGX Nifty indicate a robust opening for the broader index in India, a rise of 100 points or 0.94 percent. Nifty futures were trading around 10,815-level on the Singaporean Exchange.
On the options front, heavy addition is seen in 10800 CE (8.43Lakh shares) and 10700 PE (12.91Lakh shares) which suggests the November Nifty expiry is expected to be within 10700-10800.
The Nifty formed a Shooting Star kind of pattern on daily charts on Wednesday which suggests that the market could have reached an intermediate top.
In August, Mphasis' Board had approved a proposal for buyback of equity shares from all the existing shareholders at a maximum price of Rs 1,350 per equity share.
From demonetisation's two years to Google's global policy change, and Indian IT firms grappling with social media use by employees, this festival week had a little something on all fronts.
Mphasis had earlier said it was focusing on strategy centred around cloud and cognitive technologies, and the acquisition is a step further in that direction
Headquartered in Reston, US, Stelligent provides DevOps and DevSecOps solutions on Amazon Web Services (AWS).
In Samvat 2074, indices climbed to all-time highs as Sensex touched 38,989.65 on August 29, while Nifty hit 11,760.20 on August 28
Brokerage house sees an upside of 19-34 percent in these stocks; names such as MindTree, RIL figure in the list.
Prabhudas Lilladher recommended accumulate rating on Mphasis with a target price of Rs 1220 in its research report dated October 21, 2018.
HDFC Securities is bullish on Mphasis has recommended buy rating on the stock with a target price of Rs 1430 in its research report dated October 19, 2018.
Total income of Mphasis increased by 19.5 percent to Rs 1,962.4 crore during the reported quarter from Rs 1,642.2 crore in the corresponding quarter of 2017-18.
Motilal Oswal, which has a neutral rating on Mphasis, sees its revenue rising by 20.3 percent YoY to Rs 1,929 crore
Net Sales are expected to increase by 7.3 percent Q-o-Q (up 21.7 percent Y-o-Y) to Rs. 1,953.6 crore, according to Prabhudas Lilladher.
Net Sales are expected to increase by 6 percent Q-o-Q (up 20.3 percent Y-o-Y) to Rs. 1,929.7 crore, according to Motilal Oswal.
HDFC Securities is bullish on Mphasis has recommended buy rating on the stock with a target price of Rs 1300 in its research report dated 08 Aug 2018.
MphasiS has reported a consolidated total income from operations of Rs 1,820.22 crore and a net profit of Rs 258.31 crore for the quarter ended Jun-2018
The company's Board has approved a proposal for buyback of equity shares from all existing shareholders at a maximum price of Rs 1,350 per equity share, Mphasis said in a BSE filing.
If Mphasis considers buyback of shares then this would be sixth company to come out with share buyback offer in last one year.
Net Sales are expected to increase by 4 percent Q-o-Q (up 18.2 percent Y-o-Y) to Rs. 1,815 crore, according to HDFC Securities.
HDFC Securities is bullish on Mphasis has recommended buy rating on the stock with a target price of Rs 1060 in its research report dated May 14, 2018.
After stake sale, Blackstone said it committed to remain a long-term majority shareholder in Mphasis and did not intend to sell any additional stake in the company.
The gross revenue of the company increased by 15.6 percent to Rs 1,703.3 crore in the January-March 2018 period compared to Rs 1473.2 crore it registered in the corresponding quarter of 2016-17.