Reuters Market Eye - Shares in MphasiS Ltd (MBFL.NS) rose as much as 6.1 percent after the company, a unit of Hewlett-Packard Co (HPQ.N), agreed to buy U.S.-based Digital Risk LLC, a mortgage management specialist, for $175 million.
MphasiS said in a statement that Digital Risk is expected to register revenues of $127 million in CY2012.
The company has maintained that it would be looking at acquisitions to utilize the huge cash and cash equivalents of 23 billion rupees on the books.
Shares up 4.24 percent at 404.60 rupees.
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Next year, Dr. Ketan Desai is slated to head the World Medical Association (WMA), guardian of the Hippocratic Oath. The WMA is standing by him, even as he battles conspiracy allegations in two Indian courts. Desai has been facing allegations that he conspired in 2009 to have the Medical Council recommend that a private medical college be allowed to add more students. Full article