Mphasis share price hits 52-week high on acquisition US-based Blink Interactive

#Buzzing Stocks, Mphasis, release

Mphasis share price touched a 52-week high of Rs 3,329.95 and rising over 2 percent intraday on September 23, a day after the company announced the acquisition of US-based Blink Interactive, Inc.

Mphasis shares were quoting at Rs 3,310.50, up Rs 57.50, or 1.77 percent. In the previous trading session, the share closed up 1.69 percent or Rs 54 at Rs 3,253.

“Mphasis Corporation, USA, a wholly-owned subsidiary of the company, has acquired Blink Interactive, Inc, a Washington Corporation, consequent to signing a definitive agreement regarding the acquisition,” company said in its release.

The acquisition is expected to provide access marquee logos, strengthen experience business and is leadership and revenue growth accretive, company said.

Headquartered in Seattle, with over 130 employees, Blink has additional studios in Austin, Boston, San Diego, and San Francisco.

Founded in 2000, Blink has over two decades of expertise using their Evidence-driven Design SM process to define digital user experiences for clients.

The company has acquired a 100% stake in Blink for a total consideration of up to USD 94 million, including earnouts.

Morgan Stanley has kept overweight call on the stock with a target of Rs 3,150 per share.

The acquisition of Blink is significant in comparison to recent acquisition, while it is selective, niche and bold move to expand addressable market, said Morgan Stanley

Citi has maintained neutral rating on the stock with a target of Rs 3,070 per share.

According to Citi, the Blink acquisition will add 2-3% to company’s revenue and Blink is expected to dilute margin by 100 bps over 2 years.

The company management expects to offset the margin impact through revenue & cost synergies, Citi added.

Motilal Oswal has maintained buy rating on Mphasis with a target price of Rs 3,560.

Mphasis is paying USD 94 million, including earn-outs, but excluding retention bonuses. Blink has clocked ~42% revenue CAGR over CY17-21 and has guided at a revenue of USD 33-35m in CY21. This implies a trailing EV/sales of 2.8x, which we view as reasonable, given the strong growth and cross-sell opportunities, said Motilal Oswal.

Internet Explorer Channel Network
News Related


Radico Khaitan share price rises 2% on launch of 2 new luxury products

Radico Khaitan share price touched a 52-week high of Rs 1,043.80, rising 2 percent in the morning trade on October 12 after the liquor manufacturer unveiled two new luxury products in ... Read more »

Asian shares fall, worries over energy

Asian shares have dropped and the safe-haven US dollar has held firm as a global energy crunch fuelled inflation fears, clouding investor sentiment before the US corporate earnings season. MSCI's ... Read more »

US shares drop as soaring oil prices stir inflation woes; Yen wilts

Source: Reuters US shares fell on Monday, having whip-sawed between gains and losses as soaring oil prices that hit multi-year peaks stoked fears about rising prices and tighter monetary policy, ... Read more »

Wall St ends choppy session lower

US stocks have ended a choppy session lower as investors grew nervous ahead of the third-quarter earnings reporting season. Supply chain problems and higher costs for energy and other things ... Read more »

New Superman comes out as bisexual in upcoming DC comic

Jon Kent, the son of Clark Kent and Lois Lane, will start a relationship with a man in "Superman: Son of Kal-El" hitting the stands Nov. 9. Read more »

D-Mart operator Avenue Supermarts hits Rs 3 lakh crore market cap, enters list of 15 most valued firms

Avenue Supermarts, the operator of hypermarkets chain D-Mart, today entered the list of top 15 most valued companies by market capitalisation as its m-cap topped Rs 3 lakh crore-mark as ... Read more »

Gainers & Losers: 10 stocks that moved most on October 11

Benchmark indices erased intraday gains but closed at fresh record highs on October 11 supported by the auto, bank, metal, power and realty stocks. At close, the Sensex was up ... Read more »

Any correction in TCS will be a buying opportunity, says Vinod Nair of Geojit

The IT space has a positive outlook in view of the second-quarter results and strong deals bagged by most companies in the last one year, believes Vinod Nair, Head of Research at ... Read more »

Australian sharemarket follows Wall Street lower, casino operators weigh but resources stocks rise

The Australian sharemarket slumped after a negative lead from Wall Street, with casino operators tumbling on the local bourse but resources stocks rose on higher commodity prices. The benchmark S&P/ASX200 ... Read more »

Indian rupee slumps 17 paise to 75.16 against US dollar in early trade

Representative image The Indian rupee depreciated 17 paise to 75.16 against the US dollar in opening trade on Monday, as rising crude prices and strength of the American currency in ... Read more »

TCS share: Should you buy, sell or hold it after Q2 earnings?

The Tata Consultancy Services (TCS) share price declined over 6 percent in early trade on October 11 after the company reported its September quarter numbers. On October 8, TCS had ... Read more »

Aditya Birla Sun Life AMC debuts today: Here's what to expect from the listing

Aditya Birla Sun Life AMC, the largest non-bank affiliated AMC in India by quarterly average assets under management, is expected to start the first day trade with at least 5 ... Read more »

RIL share price hits 52-week high on stake acquisition in REC Solar, Sterling & Wilson

Reliance Industries (RIL) share price touched a 52-week high of Rs 2,724.70 adding 2 percent in the early trade on October 11 after the company acquired a controlling stake in the REC Solar ... Read more »

US stock futures lead Asia lower

Asian shares have slipped as global inflation angst favoured commodities as a hedge over US equities, while rising US bond yields lifted the US dollar to two-and-a-half year peaks against ... Read more »

LINA Korea to be sold to Chubb

LINA Life Insurance Co. of Korea / Courtesy of LINA Korea By Anna J. Park U.S.-based insurer group Chubb will become the new owner of LINA Life Insurance of Korea, ... Read more »

The week that was in 10 stocks: IRCTC, Lemon Tree, TaMo among most buzzing stocks

NEW DELHI: It was a volatile opening for the market last week, but RBI’s decision to mirror FOMC’s tone to keep its benchmark policy rate intact, kept the benchmark indices ... Read more »

More foreigners turn to NPS for annuity

The headquarters of National Pension Service located in Jeonju / Yonhap By Anna J. Park A lawmaker noted Sunday that an increasing number of foreign nationals living in Korea are ... Read more »

China risks, supply chain disruptions to weigh on stock markets

Supply-side inflation feared to hurt production, consumption By Anna J. Park China’s liquidity risks and global supply chain disruptions are expected to continue weighing on local stock markets as such ... Read more »

TCS Q2 earnings miss street estimates; check what brokerages say

Tata Consultancy Services (TCS) on October 8 reported a consolidated net profit of Rs 9,624 crore for the quarter ended September 2021 (Q2FY22), registering a 14.1 percent year-on-year (YoY) growth. ... Read more »

DAILY VOICE | Gaurav Garg of CapitalVia expects TCS to open at discount on October 11, these 3 sectors to see earnings decline in Q2FY22

Gaurav garg Looking at the Indian economic drivers, especially inflation, companies’ growth rates and interest rate, Gaurav Garg, Head of Research at CapitalVia Global Research expects the economy may outperform ... Read more »

Is it the best time to buy auto sector plagued by several issues?

Nifty scaled a new high last week and crossed a landmark of 60,000 for the first time. Investors have made money across the board in large caps, mid-caps, small-caps and ... Read more »

Shubham Agarwal explains trading results efficiently with Options

After completion of the second quarter of financial year 2021-2022, the quarterly results season has started. The developments thus reported would generally have enough raw material in them to create ... Read more »

TCS Q2 Result | Profit jumps to Rs 9,624 crore, revenue meets estimates at Rs 46,867 crore

Tata Consultancy Services, India’s largest IT firm, on October 8 reported consolidated profit at Rs 9,624 crore for the quarter ended September 2021, against Rs 9,008 crore in the June quarter, ... Read more »

Gainers & Losers: 10 stocks that moved the most on October 8

The benchmark indices extended rally for the second day in a row on October 8 that saw the market close on a high in four of the five sessions this ... Read more »

Rupee slumps 20 paise to close at 74.99 against US dollar

Representative image The rupee tumbled 20 paise to close at 74.99 (provisional) against the US dollar on Friday, as rising crude oil prices weighed on investor sentiment, even as the ... Read more »

Prevest Denpro locked in upper circuit after Porinju Veliyath firm buys stake

Dental materials manufacturer Prevest Denpro share price was locked in a 5 percent upper circuit, hitting a fresh record high on October 8 after Equity Intelligence India, owned by ace investor ... Read more »

Australian sharemarket ends week in positive territory, miners and tech stocks among the day's winners

The Australian sharemarket surged higher for the second straight day, with a development in the US providing a boost, and materials and tech stocks leading the gains. The benchmark S&P/ASX200 ... Read more »

TCS share price edges higher ahead of Q2 results; dollar revenue growth, deal wins in focus

Tata Consultancy Services’ share price edged higher in the morning trade on October 8 ahead of the country’s largest IT services company’s second- quarter result announcement. Tata Consultancy Services is expected ... Read more »

Toss to acquire 60-percent stake in ride-hailing service provider Tada

Toss founder and Viva Republica CEO Lee Seung-gun By Lee Kyung-min Toss, Korea’s internet-only bank operated by Viva Republica, will acquire Tada, a mobility startup operated by VCNC. The move ... Read more »

Auto, bank stocks rise ahead of RBI policy outcome

The Indian stock market is trading in the green ahead of the RBI interest rate decision and riding on positive global cues with Sensex up 250.15 points or 0.42 percent to 59927.98, ... Read more »

Macrotech Developers share gains 4% on Jefferies' bullish stand

Macrotech Developers share price added 4 percent in early trade on October 8 after foreign broking house Jefferies maintained the buy call on the stock and raised the target price. ... Read more »

Piramal Enterprises share price rises 2% on demerger of pharma business

Representative image Piramal Enterprises share price rose over 2 percent in the early trade on October 8 after the company had announced the demerger of its pharmaceuticals business. “The board ... Read more »

Asian shares up, China returns from break

Asian shares have risen as the Chinese market returned from a one-week holiday upbeat, tracking a global rally, while investors also eyed key US jobs data for fresh insight into ... Read more »

Amid Hiring Apocalypse, Raising Cane's Is Sending Its Corporate Staff to Work the Fryers

© Simone Hogan/Shutterstock Starting this week, Louisiana-born fast-food chain Raising Cane’s will deploy half of its corporate staff to work in restaurants across the U.S., Bloomberg first reported, citing a ... Read more »

Paras Defence consistently hits upper circuit to trade at record high; Sunil Singhania, Mukul Agrawal earn 246% returns

Paras Defence and Space Technologies shares, which listed on October 1, have hit the upper circuit limit in each trading session since, more than tripling returns for investors, including Sunil ... Read more »

Silver prices soar above Rs 61,000 per kg on industrial demand, dollar downtick

Silver Silver prices crossed Rs 61,000 per kg tracking gains in industrial metals and a weak dollar, but the upside was capped by a firm rupee. The precious metal had fallen 0.34 ... Read more »

Gainers & Losers: 10 stocks that moved the most on October 7

Indian markets closed higher mainly supported by buying in the auto and realty names. At close, the Sensex was up 488.10 points, or 0.82%, at 59,677.83, and the Nifty was ... Read more »

Interview | RBI unlikely to guide the market for normalisation if inflation eases to 4-5% in 2 months, says Sandeep Bagla of Trust MF

The purpose of low interest rate policy is to support the real economy, but this has not happened yet, given the large output gaps and the lack of credit offtake, believes ... Read more »

Ramkrishna Forgings share price at 52-week high on tie-up with US firm for EVs

Ramkrishna Forgings share price touched a 52-week high of Rs 1,187, rising over 7 percent intraday on October 7 after the company signed a memorandum of understanding (MoU) with a ... Read more »

Over 250 stocks hit 52-week high on BSE as auto, realty rally. Titan at Rs 2-lakh-crore market-cap

The Indian stock market is trading at day’s high on October 7 with Sensex up 692.30 points, or 1.17 percent, at 59882.03, and the Nifty jumping 200.20 points, or 1.13 ... Read more »