Mphasis declines on weak HP guidance

MUMBAI: Shares of Mphasis were witnessing selling pressure after Hewlett-Packard (HP), major stake-holder in the company and also its largest client, lowered its earnings guidance. HP is also looking at slowing down hiring plans.

Shares of Mhapsis were at Rs 417, down 5.51 per cent on the BSE. It touched a high of Rs 437.50 and low of Rs 410.40 in trade so far.