Mphasis share price NSE: Mphasis shares surged over 2 per cent in the morning trade on Tuesday (May 2, 2023) to Rs 1,853.6 on the NSE. Meanwhile, the benchmark Nifty traded at 18,167.65 levels, up 0.56 per cent after Dalal Street returned to trade after a long weekend. Besides, the Nifty IT was up 1.25 per cent or 347.6 points at 28,055.8. Mphasis along with Tech M, LTIMindtree were among the top gainers of the IT index.

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Earlier in the day, the counter opened at Rs 1,823.95 on NSE. So far, 1,96,275 shares of the company have changed hands on the NSE. The IT services company reported a 4.5 per cent sequential fall in revenue in constant currency (CC) terms for the quarter, defying consensus estimates of 0.5 per cent per cent growth.

Mphasis share price target: Should you buy, sell or hold?

Morgan Stanley maintained an equal-weight rating on the counter but has cut the target price to Rs 1,950 from Rs 2,100. The brokerage in its report mentioned that the portfolio-specific challenges continue and there is underperformance relative to peers on revenue growth. Margin continues to be strong QoQ with some upward bias, the brokerage report added.  

Mphasis dividend 2023

Mphasis on Thursday declared a 500 percent dividend payout i.e., a dividend of Rs 50 per equity share of face value Rs 10.

"Recommendation of a dividend of 50/- per equity share of 10/- each for the year ended 31 March 2023, which is subject to the approval of the shareholders at the ensuing Annual General Meeting," the company's regulatory filing read.

Mphasis dividend 2023 record date

The record date has not been approved yet.

Mphasis dividend 2023 payment date

If the dividend is approved, the dividend will be paid out within 30 days of the Annual General Meeting (AGM). The dividend, if declared at the ensuing Annual General Meeting of the Company, will be paid within 30 days of the Annual General Meeting, to those shareholders, whose bank account details are registered with the respective Depository participant(s) or with the Registrar and Share Transfer Agent of the Company.

Mphasis share price history

Mphasis shares have gained corrected 32 per cent in last year, a period in which headline index Nifty 50 gained nearly 6 per cent.