Archive · 3 Jun 2025
Mphasis Clarifies FedEx Partnership After Share Drop
Mphasis, a company that provides services, saw its stock price drop after a report suggested they would lose a major client, FedEx.
This news made investors worry.
Mphasis has since said that they are still providing services to FedEx, which means the initial report was not entirely correct.
Despite the clarification, the stock ended the day slightly lower.
The company stated that they are continuing with their existing business plans and forecasts.
Mphasis clarified it remains a service provider for FedEx.
The clarification comes after a report stating Mphasis would lose FedEx business.
Mphasis shares initially dropped following the report.
The report indicated Accenture would handle most of FedEx's IT work.
Mphasis shares closed 2.5% lower on Monday after an initial decline.
- Who
- Mphasis, FedEx, Accenture
- What
- Mphasis clarified its ongoing relationship with FedEx following a report about contract changes.
- When
- The clarification was made on Tuesday, June 3, after a report on June 1.
- Where
- Unknown
- Why
- Mphasis shares declined after a report suggested they would lose a contract with FedEx, prompting the clarification.
- Mphasis Current Status
- Service provider in the FedEx ecosystem
- Initial Concern
- Reported loss of FedEx business
- Reported to carry out FedEx IT work
- Accenture Plc
- Stock Performance Impact
- Mphasis shares dropped 6.7% on Monday
- Mphasis closing price on Monday
- ₹2,494.8
