Why Is Mphasis Share Price Falling, Despite New Clients?
Why Mphasis share price is falling Shares of Mphasis are down 4 per cent in the last five days. However, the impact in rupee terms got adjusted on account of a depreciation in the Indian rupee with respect to the US dollar. The company's growth continued to witness adverse mortgage LOB impact from macro factors (yield volatility), affecting the BFS vertical, while the Insurance business saw a sequential decline. It shared that 3 of 5 NCA (new client acquisitions) verticals have achieved a run rate of $100 million over the last 3 years, and contribute 25 per cent to the direct revenue, indicating client acquisition success. The stock is also down 40 per cent in 2022 due to pressure in global markets. Source - NDTV