Mphasis dropped 3% to Rs 1,899, extending losses for fourth consecutive trading session.
Shares of Mphasis have lost 11.34% in four trading sessions from a recent closing high of Rs 2,142 on 8 March 2023.On the BSE, 35,768 shares were traded in the counter so far compared with average daily volumes of 14,801 shares in the past two weeks.
The stock hit a 52 week high of Rs 3,466.40 on 31 March 2022. The stock hit a 52 week low of Rs 1,895 in intraday today.
The stock had underperformed the market over the past one month, sliding 11.72% compared with 5.03% fall in the Sensex.
The counter had outperformed the market in past one quarter, slipping 5.07% as against 7.53% decline in the sensex.
The scrip had underperformed the market in past one year, declining 42.74% as against Sensex's 2.61% rise.
On the technical front, the stock's daily RSI (relative strength index) stood at 30.944. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 2083.07, 2039.31 and 2137.92 respectively. These levels will act as crucial resistance zones in near term.
Mphasis is an information technology (IT) solutions provider specializing in cloud and cognitive services.
On consolidated basis, the company's net profit jumped 15.3% to Rs 412.27 crore on 12.2% rise in net sales to Rs 3,506.21 crore in Q3 FY23 over Q3 FY22.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
