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Mphasis-reuters-L

MphasiS stock gains over 2%

Marble II Pte Ltd, a unit owned by PE firm Blackstone sold 8% stake in the IT company at Rs960 per share.

Shares of MphasiS gained over 2% on the NSE. Around 1.55cr shares changed hands on the NSE. Marble II Pte Ltd, a unit owned by PE firm Blackstone sold 8% stake in the IT company at Rs960 per share.

As of March 31, 2018, Blackstone through its unit Marble II Pte held 60.38% stake in Mphasis, as per media reports.

The stock is currently trading at Rs1,002 up by Rs17.3 or 1.76% from its previous closing of Rs984.70 on the BSE. The scrip opened at Rs974.10 and has touched a high and low of Rs1,032 and Rs966 respectively.

MphasiS provides a suite of application development and maintenance services, infrastructure outsourcing services and business process outsourcing solutions to clients. It generates revenue from verticals like Banking and Capital Market (48%, 3QFY18), Insurance (13%), IT, Communication & Entertainment (14%) and Emerging Industries (25% of revenue).

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