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Shares of MphasiS Ltd, an HP company that is into applications, BPO, infrastructure and consulting solutions services, pulled back from their 52-week low after the company came out with a denial about any CBI raid on its premises.
By 12 noon, the counter had witnessed a trading volume of 5.18 lakh shares on the BSE which was about 15 times’ the daily average volume of 34,000 shares in the exchange.
In its statement to the stock exchanges, MphasiS said that the news reports about CBI searches on its premises “are false’’ and there were no CBI searches on its premises. It further said that the company “has the highest governance and ethics standards’’ adhering to all statutory and legal requirements as applicable.
On the BSE, the share touched its 52-week low of Rs 308.05 but pulled back to Rs 369.60 (up by Rs 17.55 or 4.99 per cent).
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