Why Is Mphasis Share Price Falling, Despite New Clients?

Shares of the company are down even as it signed clients worth US$ 302 m during the September 2022 quarter.

Shares of Mphasis are down 4 per cent in the last five days. The stock is also down 40 per cent in 2022.

Why, you may wonder?

The stock has been under pressure for a while now due to a broader decline in IT stocks. The Russia-Ukraine war put global markets under pressure. This fall in global markets also triggered a fall in Indian IT stocks.

However, the company's shares have fallen recently after it reported lower than expected results for the September 2022 quarter.