Mphasis to decentralise decision making process; investors aren't enthused

The software firm has begun a reorganisation programme to give greater control to delivery managers placed onsite.

Mphasis stock dropped 1% trading at Rs. 507.05 on BSE after the company announced its plan to decentralise decision-making. The software firm has begun a reorganisation programme to give greater control to delivery managers placed onsite.

The scrip opened at Rs. 514.8 and has touched a high and low of Rs. 517.3 and Rs. 504.3 respectively. So far 75798(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 10773.12 crore.

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 04-Feb-2015. Last one week high and low of the scrip stood at Rs. 523.45 and Rs. 476 respectively.

The promoters holding in the company stood at 60.48 % while Institutions and Non-Institutions held 28.74 % and 10.78 % respectively.

The stock is currently trading below its 50 DMA.