Stock market analyst Hitendra Vasudeo has suggested investors to 'sell' Mphasis stock as there are full chances of a downward trend in this stock in the coming days.

According to Mr. Vasudeo, investors can sell the stock between Rs 330.30-Rs 338.90 with a strict stop loss of Rs 344 to achieve a target that lies between Rs 316.70-Rs 294.40.

Today (June 05), the stock opened at Rs 328 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 27.32 and 12.04 respectively. The share price has seen a 52-week high of Rs 352 and a low of Rs 119.40 on BSE.
 
Mr. Vasudeo also suggested that it’s advantageous to sell the stock at the said level as the counter is under huge pressure.

He also said that if the stock fell below Rs 290, it may fell further.  

After selling the stock, the interested investors can purchase the stock again at a low price, for medium term prospective to make good profits.

The Mphasis Group posted a growth of 3.19 times in the consolidated net profit for the three month period ended April 2009.

During the period under review, Mphasis announced profit of Rs 2,245 million as compared to Rs 703 million in the period ended April 2008.

The company consolidated revenues during the same period saw a growth of 52.30% at Rs 10,485 million.

On a consolidated basis, the company’s EPS during the quarter stood at Rs 10.74 per share, an increase of 3.19 times over the prior year period.

On a year on year basis, the company’s profit was at Rs 2,245 million as compared to Rs 2,100 million for quarter ended January 31, 2009 a rise of 6.9%.

Consolidated revenues during the thre month period ended April 30, 2009 surged 7.2% compared to Rs 9,777 million during the last quarter. Earnings of the company increased 6.9% from Rs 10.05 last quarter.