November 21, 2012 / 5:39 AM / 5 years ago

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.

Employees work on their computer terminals on the floor of an outsourcing centre in Bangalore February 29, 2012. REUTERS/Vivek Prakash/Files

The news sent HP’s shares, which owns 60.5 percent stake in MphasiS, plunging 12 percent to a 10-year low.

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