Stock of Interest

Posted On: July 12, 2023

Stock Report : MPHASIS (NSE) 11 Jul 2023

Outlook: Bearish

Mphasis Limited is an Indian multinational information technology services and consulting company with its headquarters in Bengaluru. The company offers infrastructure technology and applications outsourcing services, along with architecture guidance, application development and integration, and application management services. It was founded in 1998 by Jerry Rao and Jeroen Tas. The current CEO, Nitin Rakesh, has been leading the company since January 29, 2017. As of 2023, Mphasis Limited employs approximately 26,977 individuals. It operates as a subsidiary of Blackstone Inc. and Electronic Data Systems. In the fiscal year 2021, the company reported a revenue of 9,722 crores INR, equivalent to approximately US$1.2 billion.

xCalData predicts that MPHASIS will continue its bearish phase over the next five days.

During this period, the price trend of MPHASIS is expected to fall within the range of 1958 to 1883.

In comparison to the previous month, the price of the stock has experienced a decline of 5.26% indicating a bearish sentiment.

Majority of the technical ratios trend towards bearish side of the spectrum. Only 2 of the technical indicators namely ASI and RVI indicate bullish view.

Collectively, xCalData suggests the stock would be in Bearish zone for this week ending 7^th July.

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Disclaimer: The securities quoted are for illustration only and are not recommendatory.