MphasiS shares jump after Digital Risk buy
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.
- Tweet this
- Share this
- Digg this
- Army officer takes charge in Burkina Faso, ousting general
- UPDATE 1-J.P. Morgan found hackers through breach of corporate event website -media
- 'Plastic' Halloween skulls found in Connecticut are human remains
- SEBI piles pressure on Sahara to sell overseas hotels
- J.P. Morgan found hackers through breach of corporate event website - media
Shares Hit Record
The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article