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
Trending On Reuters
India should increase public spending to boost economic growth in the medium term as there have been no signs of private investment picking up, chief government economic adviser Arvind Subramanian said on Friday. Full Article