India's Mphasis falls after report of losing key U.S. client to Accenture
ReutersJun 2, 2025 6:30 AM
Shares of Mphasis MBFL.NS down 2.8%
IT provider's stock is the top pct loser in the information technology index .NIFTYIT, which is down 0.7%
Livemint reports FedEx Corp.FDX.N selects Accenture Plc ACN.N for its IT work
FedEx was one of MBFL's oldest clients; accounted for 8% of MBFL's $1.61 billion revenue in fiscal year 2024 - report
MBFL did not respond to Reuters request for comment
FedEx has been among MBFL's top 3 clients for at least 5 years, according to Ambit Capital
Trading volume is 1.27 million shares as of 11:53 a.m. IST, nearly 2x 30-day average, data compiled by LSEG shows
YTD, MBFL shares down 10.1%, NIFTYIT down 14.1% - exchange data
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