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Shares of IT services provider MphasiS today rose over one per cent on report J apan’s NEC is eyeing the company.
MphasiS shared jumped 1.2 per cent after earlier rising as much as 9 per cent.
The stock heads towards its biggest single-day gain since October 29.
According to CNBC TV18, Japanese firm NEC Corp is in initial talks to buy MphasiS.
Investment bank UBS is approaching other buyers for MphasiS deal, it said, adding HP is looking to exit MphasiS.
HP owned 60.48 per cent stake in MphasiS as of September 30, according to Thomson Reuters data.
A spokeswoman for MphasiS could not immediately be reached
NEC’s shares were up 2.5 per cent.
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