Shares in MphasiS Ltd were down 2.9 per cent on Tuesday. Analysts say there are concerns over revenues that the company gets from Hewlett-Packard.
HP said it would split into two listed companies and eliminate another 5,000 jobs as part of its turnaround plan.
HP owns 60 per cent stake in MphasiS.
Separately, Macquarie downgraded the stock to "underperform" from "outperform".
Copyright: Thomson Reuters 2014
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