Mphasis announces No Exposure to Silicon Valley Bank, Signature Bank or Silvergate Capital

Mphasis Limited (BSE - 526299; NSE - MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced that it has no exposure to Silicon Valley Bank, Signature Bank or Silvergate Capital, either as a client or as a banker.

"We are continuing to focus on servicing our clients in this heightened environment of volatility and transaction volumes. Mphasis has no business with or exposure to Silicon Valley Bank, Signature Bank or Silvergate Capital, either as a client or banker. Our business from US regional banks is a low single digit percentage contribution to the overall revenue." said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.

Shares of MphasiS Limited was last trading in BSE at Rs. 1669.10 as compared to the previous close of Rs. 1724.05. The total number of shares traded during the day was 8844 in over 1365 trades.

The stock hit an intraday high of Rs. 1724.00 and intraday low of 1664.25. The net turnover during the day was Rs. 14955799.00.

Source : Equity Bulls

Keywords

MphasiS INE356A01018 NoExposure Client Banker SiliconValleyBank SignatureBank SilvergateCapital