Mphasis shares gained as much as 6.44 per cent in the morning trade on Thursday on stake sale reports. According to reports, Blackstone, Apollo are in race with Tech Mahindra to acquire Mphasis.
At 10.00 am, shares of Mphasis were trading 3.33 per cent up at Rs 448.35. The scrip opened at Rs 449.30 and had touched a high and low of Rs 461.85 and Rs 447.50, respectively, in trade so far. Sensex was up 0.74 per cent at 24,402.12.
Later, the scrip closed 4.36 per cent up at Rs 452.80.
The move comes after Hewlett Packard Enterprise revived its plans to sell its controlling 60.4 per cent stake in the subsidiary, a business daily reported.
Since the beginning of the calendar year 2016, the share price of Mphasis slid 12.77 per cent to Rs 433.90 till February 3, whereas the BSE Sensex fell 7.25 per cent during the period.
The BSE group ‘A’ stock of face value Rs 10 has touched a 52 week high of Rs 534 on 29-Oct-2015 and a 52 week low of Rs 331 on 4-Feb-2015.
(With inputs from Reuters)