| The stock was in limelight after the company announced in the afternoon that it has entered into an agreement to acquire a Bangalore-based software company, Kshema Technologies. The stock closed at Rs 581.50 after hitting an intra-day high of Rs 590 with volumes accounting for more than 31 thousand shares at the BSE. |
| According to market sources, today's gain in Mphasis was purely news-driven with the company acquiring a software firm for approximately $21 million. The acquisition is expected to result in increase in earnings per share (EPS) in the very first year, the company said. |
| The stock, however, has been witnessing selling pressure in the last three months on back of outsourcing concerns and billing pressure. The stock prices have come down from its 52-week high of Rs 796.85 to today's close of Rs 581.50. |
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