by Virendra Verma

THE MphasiS BFL Software stock gained 20 per cent on Monday. The share closed at Rs 311.45 on the BSE with a volume of 19,381 shares and at Rs 307.05 with a higher volume of 73,798 shares on the NSE. Buying by mutual funds, which are already holding the stock in their portfolio, was one of the main reasons for the stock to rise.

Some of the funds, which are holding MphasiS BFL in their portfolio, are Pioneer ITI, Alliance and Birla Mutual Fund. Dealers said this was mainly to show better NAV on the last day of the year.

In addition, there were talks that Chrysalis Capital, with holding of over 14 per cent in the company, was also buying in the counter albeit in small quantity.