MphasiS falls on HP's $8.8 bln writedown
Reuters Market Eye - Shares in software and back office provider MphasiS (MBFL.NS) fall 2.8 percent after majority owner Hewlett-Packard Co (HPQ.N) took a $8.8 billion writedown after alleging a massive accounting scandal at its British software unit Autonomy.
The news sent HP's shares, which owns 60.5 percent stake in MphasiS, plunging 12 percent to a 10-year low.
- Tweet this
- Share this
- Digg this
India approved on Saturday the purchase of 814 mounted gun systems for the army at a cost of 157.5 billion rupees ($2.55 billion), a defence ministry spokesman said. Full Article