The Exchange has sought clarification from MphasiS Limited with respect to recent news item captioned Mphasis to lose FedEx business accounting for 8% of total revenue. The response from the Company is awaited.
MPHASIS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
NSE has asked MphasiS to clarify a recent news report that the company will lose its FedEx business, which reportedly contributes about 8% to its total revenue. The company has not yet submitted its response to the exchange. FedEx is understood to be one of MphasiS's significant clients. The clarification is being sought because such news can impact the stock price. Investors should wait for the company's official statement before drawing conclusions.
If confirmed, losing an 8% revenue client is material and could negatively affect the stock. Until MphasiS responds, uncertainty may keep the stock volatile.