Mphasis Shares drops 3% due to the Morgan Stanley overweight:
On 7th Feb, the Mphasis shares declined by around 3% from the previous trade. Also, it planned to cross the last 3 consecutive sessions of high value. The stock came under pressure because of the company already announced the 3rd quarter report on 6th Feb.
As per the Dec quarter report, the net profit reached Rs 293.6 cr with a growth of 5.6%. And the total income raised to Rs 2,312.8 cr with 14.4% growth.
Moreover, Morgan Stanley is a global health management company, it termed the share value. The company overweighted with the target price of Rs 1,090 on the stock.
On Feb 7, 11.35, the Mphasis shares listed at Rs 929 with a loss of 1.475 on the Bombay Stock Exchange.
Mphasis Ltd shares trading with a loss of 4.50 points reached 938.20 INR with 0.50% down. Its previous close at 942.95 INR on National Stock Exchange. Mphasis Ltd Share outstanding with 186,466,737.
Besides, the Sensex and Nifty trading with a bearish trend today (Feb 7), The BSE Sensex trading with a loss of 166.01 points reached 41,154.12 with 0.37% down. Whereas Nifty50 trading with a loss of 34.80 points reached 12,103.40 with 0.28% down.
Mphasis Ltd shares trading with a loss of 4.10 points reached 938.80 INR with 0.43% down. Its previous close at 942.90 INR on BSE. Mphasis Ltd Share outstanding with 186,466,737.