MPHASIS

** Shares of IT firm Mphasis MBFL.NS down 4.2%

** Co reports Q3 revenue below analysts' estimates, although profit is in line

** BFSI segment, biggest by revenue, seeing slow recovery

** Stock's 12-month gains cut to about 12%

(Reporting by Ananta Agarwal in Bengaluru)

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BENGALURU, Jan 23 (Reuters) - Diary of India economic, corporate events on Jan. 23

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled', AMC - 'After market close'

(Compiled by Bengaluru Newsroom)

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Dec 4 (Reuters) - Mphasis Ltd MBFL.NS:

• LAUNCHES CYBER FUSION CENTER IN BANGALORE

Source text: ID:nBSE1Yjx9K

Further company coverage: MBFL.NS

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Nov 14 (Reuters) - Mphasis Ltd MBFL.NS:

• MPHASIS APPOINTS MIKE MEYER AS HEAD OF STRATEGIC SALES

Source text: ID:nPnbqCnMHa

Further company coverage: MBFL.NS

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** Shares of Mphasis MBFL.NS rise 2% to 2,968 rupees

** Stock top gainer on Nifty IT index .NIFTYIT, which is up 0.63%

** IT firm reports 8% rise in both consolidated net profit and rev from ops for Q2

** Co says broad-based pipeline growth across all verticals, including core BFSI segment, with pipeline from America ops up 28% Y/Y

** More than 1.3 mln shares change hands, 1.8x its 30-day avg

** Twenty-seven analysts covering the stock on avg have a "hold" rating; median PT is 3,000 rupees - LSEG data

** Stock up 8% so far this year vs a ~20% gain in .NIFTYIT

($1 = 84.0120 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of LTIMindtree Ltd LTIM.NS and Mphasis Ltd MBFL.NS up 2.4% each

** J.P.Morgan upgrades both IT stocks to "overweight" from "neutral", saying they are best-placed to benefit from recovery in spending by BFSI clients

** JPM raises PT on LTIM PT Street-high of 6,900 rupees vs current price of 6,253.05 rupees

** JPM raises PT on MBFL to Street-high of 3,400 rupees vs current price of 2,897 rupees

** Analysts on avg rate both stocks "hold" -LSEG data

** LTIM nearly wipes out YTD losses, while MBFL extends gains to 6.2%

** Still, they are 2nd and 3rd worst performers on 10-member Nifty IT .NIFTYIT index YTD

(Reporting by Nandan Mandayam in Bengaluru)

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Oct 1 (Reuters) - Mphasis Ltd MBFL.NS:

• ELECTED JAN KATHLEEN HIER AS CHAIRPERSON OF BOARD

Source text for Eikon: ID:nBSEbX5Wy0

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Sept 17 (Reuters) - Mphasis Ltd MBFL.NS:

• MPHASIS APPOINTS AJAY ARYA AS HEAD OF MERGERS & ACQUISITIONS

Source text for Eikon: ID:nBSE9Qp9wv

Further company coverage: MBFL.NS

(Reporting by VijayDattaram Malkar)

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** Mphasis MBFL.NS shares rise as much as 3.8% to 3,153 rupees, highest since April 11, 2022

** Stock top gainer on Nifty IT index .NIFTYIT, which is up 0.3%

** Nuvama Institutional Equities upgrades stock to "buy" from "hold", with a PT of 3,500 rupees

** Says MBFL rallying for six straight sessions on early signs of recovery and expectations of U.S. rate cuts

** Expects revenue base to diversify over next few years

** Avg rating of 28 analysts covering MBFL is "hold", with a median PT of 2,725 rupees - LSEG data

** Stock up 15% so far this year vs a 17.5% gain in IT index

(Reporting by Ashna Teresa Britto in Bengaluru)

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Aug 16 (Reuters) - Mphasis Ltd MBFL.NS:

• MPHASIS - APPOINTS ARAVIND VISWANATHAN AS CFO

• MPHASIS - MANISH DUGAR RESIGNED AS CFO

Source text for Eikon: ID:nBSEb3pj0X

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** Shares of Mphasis MBFL.NS jump 7.4% to 3,055.20 rupees; top pct gainer on IT index .NIFTYIT which is up ~2%

** IT firm's Q1 rev climbs 5.2%; profit grows 2%

** "Despite multiple challenges, tech spend seen as a strategic priority" - company

** Mean rating of 29 analysts is "hold"; median PT is 2,425 rupees - LSEG data

** Stock up ~12% YTD vs 15% climb in IT index

(Reporting by Kashish Tandon in Bengaluru)

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June 12 (Reuters) - Mphasis Ltd MBFL.NS:

• BCP TOPCO IX PTE. CUTS STAKE IN MPHASIS FROM 55.45% TO 40.37%- EXCHANGE FILING

Source text for Eikon: ID:nBSE1DxfMz

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** Shares of Mphasis Ltd MBFL.NS down 3.4% at 2,389.70 rupees

** Around 30 mln shares change hands in 16 separate block deals on Monday, all at a discount to previous close - NSE data

** In total, 33 mln shares traded in stock's busiest day on record, vs 30-day avg volume of ~500,000 shares

** CNBC-TV18 late Friday reported MBFL's top shareholder Blackstone would sell 10.6% stake via block deals on Monday

** Base price of 2,350 rupees per shr at a ~5% discount to previous close of 2,471.95 rupees - report

** MBFL, Blackstone did not immediately respond to Reuters' requests for comment

** Blackstone via BCP TOPCO IX owns 55.45% stake in MBFL - exchange data

** Analysts tracking MBFL rate it "hold" on avg, in line with most other stocks on 10-member Nifty IT .NIFTYIT index - LSEG data

** Stock down ~13% in 2024, among biggest losers in Nifty IT index

(Reporting by Nandan Mandayam in Bengaluru)

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June 4 (Reuters) - Mphasis Ltd MBFL.NS:

• MPHASIS AND CLASSIQ PARTNER

Source text for Eikon: ID:nNSEhmsk8

Further company coverage: MBFL.NS

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By Sai Ishwarbharath B

BENGALURU, May 22 (Reuters) - Mid-tier firms in India's $254 billion information technology sector took market share from industry goliaths in recent quarters as clients curtailed discretionary spending amid inflationary pressures and economic uncertainty, analysts said.

Unlike their larger rivals such as Tata Consultancy Services TCS.NS and Infosys INFY.NS, mid-tier IT firms tend to focus on short-term deals aimed at helping clients cut costs rather than chase large-scale projects.

The practice has paid off in an environment of slowing demand in prominent markets such as North America and Europe.

LTIMindtree LTIM.NS, Coforge COFO.NS, Mphasis MBFL.NS and Persistent Systems PERS.NS are "increasingly viewed as challengers in (winning) Fortune 500 accounts, aiding the share gain process," Kotak Institutional Equities said.

The smaller companies could outperform their larger rivals further once discretionary spending improves, Kotak analysts Kawaljeet Saluja, Sathishkumar S and Vamshi Krishna said.

This should set the mid-tier IT firms up well as they try to win more budget-conscious clients in an economic backdrop where U.S. interest rates are expected to stay "higher for longer". Industry body Nasscom estimated overall revenue growth more than halved to 3.8% last financial year.

"In the current macro environment, clients are increasingly looking at service providers (that) deliver services at lower and predictable costs with better business outcomes," said Avinash Baliga, partner at consulting firm Avasant.

Persistent Systems CEO Sandeep Kalra and Mphasis CFO Manish Dugar confirmed the market share gains. India's larger IT firms did not respond to Reuters' requests seeking comment.

"We are able to hold our own and win against the larger piers as clients are looking for competency and not scale," Dugar told Reuters.

The market share of India's top five IT firms fell 17 basis points in 2023, reflecting the inroads made by the mid-tier IT firms, according to BNP Paribas data shared exclusively with Reuters. However, the top five IT firms still owned 88.35% of the market as of December 2023 among the top 10 firms.

On the stock market, share prices of Mphasis and Persistent Systems advanced 23.7% and 42.5% respectively in the last 12 months compared to a 16% gain in the broader Nifty IT Index.

In April, Infosys forecast fiscal 2025 revenue growth between 1% and 3% in constant currency terms, while most analysts had expected it to be at least in the range of 2% to 5%.

"Due to the sheer size they have reached, larger players have given muted guidance," said Ashok Soota, founder of mid-tier IT firm Happiest Minds Technologies HAPP.NS , which also gained market share. "We need to be humble about this as (our) market share is (relatively) small on the grand total."

(Reporting by Sai Ishwarbharath B; Editing by Dhanya Skariachan and Shri Navaratnam)

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April 5 (Reuters) - Mphasis Ltd MBFL.NS:

• SIGNS COLLABORATION AGREEMENT WITH AWS

• SIGNS COLLABORATION AGREEMENT WITH AWS TO LAUNCH GEN AI FOUNDRY FOR FINANCIAL SERVICES

Source text for Eikon: ID:nBSE37pwgm

Further company coverage: MBFL.NS

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Feb 1 (Reuters) - Mphasis Ltd MBFL.NS:

• DEC-QUARTER CONSOL NET PROFIT 3.74 BILLION RUPEES VERSUS PROFIT 4.12 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 33.38 BILLION RUPEES VERSUS 35.06 BILLION RUPEES

Source text for Eikon: ID:nBSEbwJFBV

Further company coverage: MBFL.NS

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** Shares of Mphasis MBFL.NS down as much as 5.62% to 2133.7 rupees, their lowest since July 21

** Stock hits sharpest intraday pct loss since April 17

** IT services provider said its consol net profit for the July-Sept quarter fell 6.3% to 3.92 billion rupees ($47.17 million)

** Analysts' average rating is equivalent of "buy", their median PT is 2,460 rupees

** About 1.3 mln shares change hands as of 2:49 p.m. IST, 3.4x 30-day average

** Stock last down 4%, trimming YTD gains to ~9%

($1 = 83.1055 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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Oct 17 (Reuters) - Mphasis Ltd MBFL.NS:

• MPHASIS, WORKFUSION PARTNER TO TRANSFORM FINANCIAL CRIME FOR ENTERPRISES

Source text for Eikon: ID:nBSEbXKdTL

Further company coverage: MBFL.NS

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Mphasis Ltd MBFL.NS:

• MPHASIS STRENGTHENS SALESFORCE CAPABILITIES WITH ACQUISITION OF SILVERLINE, A SALESFORCE PARTNER

Source text for Eikon: ID:nPnMzfR8a

Further company coverage: MBFL.NS

Oct 3 (Reuters) - Mphasis Ltd MBFL.NS:

• FORMS STRATEGIC TECHNOLOGY PARTNERSHIP WITH CORESTACK

Source text for Eikon: ID:nNSEsN1q8

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June 2 (Reuters) - Mphasis Ltd MBFL.NS:

• UNIT SIGNED DEFINITIVE AGREEMENT TO ACQUIRE 100% OF SHARES IN EBECS LIMITED

Source text for Eikon: ID:nBSE5rMmvR

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** Shares of IT solutions provider Mphasis Ltd MBFL.NS rise as much as 3.9% to 2,023 rupees, highest since March 13

** Stock has largest intraday pct climb since March 31

** Co says it launched 'Mphasis.ai', a business unit that implements generative AI in offerings for enterprise clients

** Moving average convergence divergence line above signal line, suggesting bullish momentum

** Over 454,000 shares change hands as of 11:48 a.m. IST, equaling the 30-day moving average

** Fifteen analysts rate the stock "buy" or "strong buy", eight "hold", seven "sell" or "strong sell"; median PT is 2,000 rupees - Refinitiv data

** Stock erases YTD losses, currently up 1.6% from last year

(Reporting by Varun Vyas in Bengaluru)

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** Shares of Mphasis Ltd MBFL.NS rise as much as 3.03% to 1,992.45 rupees

** Stock among top gainers in information technology (IT)index .NIFTYIT which is up 1.17%

** Rise in domestic IT stocks follows surge in technology stocks in the U.S. on Thursday, fuelled by strong earnings from chip maker Nvidia

** MBFL also announces a strategic partnership with a conversational artificial intelligence (AI) platform Kore.ai

** Move to improve customer experience and employee engagement for enterprise clients, says co

** Trading volume is 473,827 shares as of 2:17 p.m. IST, 1.1x the 30-day avg - Refinitiv data

** 26 analysts rate stock 'buy' or higher, three 'hold' and two 'sell;' median PT is 2,822 rupees

** Of the 29 analysts tracking MBFL, 15 maintain "buy", six suggest "sell" and eight recommend "hold"; median TP is 1,975 rupees

(Reporting by Bharath Rajeswaran in Bengaluru)

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