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Nomura Maintains Reduce Rating on Mphasis
Posted On : 2012-10-12 23:45:45( TIMEZONE : IST )
Nomura has maintained 'Reduce' rating on Mphasis Ltd. after its parent company HP announced profit warning.
The CEO of parent company HP expects the company to turn around only by 2016. Nomura feels this as a negative development for Mphasis which gets nearly 55% of its revenues from HP.
Nomura re-iterates 'Reduce' rating on the company with a target price of Rs.350.
