Stock market analyst Ashwani Gujral of stockmechanics.com maintained ‘Buy’ rating on Mphasis to achieve a short term target between Rs 400 – Rs 415.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 350.

Today (July 10), the shares of the company opened at Rs 374.80 as against it last closure of Rs 370.95 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 27.32 & 13.78 respectively. The share price has seen a 52-week high of Rs 416 and a low of Rs 119.40 on BSE.

Mphasis on July 6 said that it has signed a deal with UK-based software vendor Singularity for using the latter's technology for mechanization of business functioning for its customers.

Under the contract, MphasiS will make use of Singularity's business process management technology in order to mechanize processes for customers across segments such as financial services, manufacturing, healthcare, communications, transportation, consumer and retail and energy.

BPM technology removes pointless steps and lessens labor-intensive inputs in a route, raising the number of actions, which can be executed in parallel, which results in reduced costs and management overhead in addition to increased throughput capacity.

MphasiS on July 03 has appointed Ganesh Murthy as its chief financial officer (CFO).

Mr. Murthy takes over from Susanto Banerjee, who has decided to pursue opportunities outside Mphasis.

MphasiS added that Murthy’s appointment, who has been acting as interim CFO since January 2008, is effective July 15, 2009.