MphasiS rallies post clarification of CBI raid report

BSE 23 May 12 | 12:00 AM

369.90		-7 (-1.86%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 526299

Face Value: N.A.

NSE 23 May 12 | 12:00 AM

369.20		-7.15 (-1.9%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: MPHASIS

Performance
1 Week	:	Rs	388.40	(-4.76%)
1 Month	:	Rs	368.85	(0.28%)
1 Year	:	Rs	431.15	(-14.21%)

MphasiS rallies post clarification of CBI raid report

SI Reporter / Mumbai 22 Aug 11 | 12:20 PM

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MphasiS has rallied 5% at Rs 368, bouncing back more than 21% from the day’s lows, after the company said that reports of a raid by the Central Bureau of Investigation (CBI) at its premises are "completely false and incorrect".

“This is with regards to the news in some publications this morning about CBI searches on MphasiS premises. We would like to clarify that these reports are false. There have been no CBI searches on the company’s premises," the mid-cap company said in a filing to the stock exchanges.

MphasiS has the highest governance and ethics standards adhering to all statutory and legal requirements as applicable, it added.

The stock had hit a low of Rs 306 on the CBI raid reports and touched a high of Rs 398 thereafter. As many as a combined 2.39 million shares have changed hands on the counter till 1218 hours as against an average less than one million shares traded daily in the past two weeks.