MphasiS rose 3.74% to Rs 482.70 at 10:57 IST on BSE on media reports that Blackstone has emerged the strongest contender to acquire the company from Hewlett Packard Enterprise in a deal worth over $1 billion.
Meanwhile, the S&P BSE Sensex was up 156.68 points or 0.63% at 24,839.16.
On BSE, so far 25,000 shares were traded in the counter as against average daily volume of 29,616 shares in the past one quarter. The stock hit a high of Rs 496.30 and a low of Rs 476.10 so far during the day. The stock had hit a 52-week high of Rs 534 on 29 October 2015. The stock had hit a 52-week low of Rs 362.50 on 3 June 2015. The stock had outperformed the market over the past one month till 16 March 2016, surging 12.28% compared with Sensex's 6.43% rise. The scrip had also outperformed the market in past one quarter, declining 2.21% as against Sensex's 3.18% fall.
The mid-cap company has equity capital of Rs 210.18 crore. Face value per share is Rs 10.
Media reports suggested that Blackstone and Apollo Global Management submitted binding offers last week for the 60.4% stake in MphasiS after the third serious contender Tech Mahindra opted out.
On consolidated basis, MphasiS' net profit fell 5.99% to Rs 173.64 crore on 2.61% decline in net sales to Rs 1516.75 crore in Q3 December 2015 over Q2 September 2015.
MphasiS is a IT solutions provider, offering applications, business process outsourcing (BPO) and infrastructure services globally through a combination of technology knowhow, domain and process expertise.
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