Hi Ravi...
entered MPHASISBFL after your call, but recently its has taken a big beating....i read this today...
"Mphasis BFL lost 3.5% in opening trade to Rs 242 after private equity firmBarings Private Equity said it has given up a plan to sell its 35.6% stakein the company.28,521 shares changed hands in the counter on BSE by the first few minutesof trade.Mphasis BFL stock lost ground since mid-July 2005. From a recent high of Rs285.10 on 19 July 2005, the stock had slipped to Rs 251 by 24 August 2005 onthe eve of the announcement.Baring decision not to divest the stake was because it was not satisfiedwith the bids received. It may be recalled that Barings had put on the blockits 35.6% stake in Mphasis in May 2005. Unconfirmed reports had it thatHinduja TMT had bid aggressively valuing the firm at Rs 300 per share butBarings decided not to accept the Hinduja bid as the current management ofMphasis was against it.The cancellation of stake sale in Mpahsis will put pressure on Barings asthe fund which holds the Mphasis stake has already expired and it is on aone-year extension which ends in December 2005"
does this mean its gone for good???....i've already lost bout 10% on this deal(bought@268) ....should i hold on or let it go....
Regards,
Dheeraj M
