Tag: coforge

Shares of Coforge dipped 6 percent to Rs 4,260 on the BSE in Thursday's intra-day trade after 10 percent of the total equity of the information technology (IT) consulting & software company changed hands on the BSE. The promoter company Hulst BV sold over 60 lakh shares of the company worth Rs 2,689 crore, at an average price of Rs 4,329 apiece. Hulst BV sold almost 10.2% of its stake in the IT company. It held a total equity stake of 49.97% in the company as of Dec 31, 2021, after selling 83.5 lakh shares through block deals last year. In the past three months, the stock has underperformed the market by falling 19 percent, as compared to a 5 percent decline on the S&P BSE Sensex. The stock had hit a record high of Rs 6,133 on January 4, 2022. Over the past calendar year, Coforge’s CEO & Executive Director, Sudhir Singh sold about Rs 342 million worth equity shares of the company at Rs 5,381 apiece.

The Nifty IT index was ruling nearly a percent higher today(13th Sept.2021), bucking the overall weak trend in the markets. shares of Mindtree were up 3 percent while Mphasis, Coforge, Wipro, and TCS (Tata Consultancy Services) gained between 0.7 percent and 2.2 percent. According to some analysts, the sector will continue to see re-rating in the near to medium term. "We believe current valuations will sustain driven by liquidity + TINA (there is no alternative) + FOMO (fear of missing out) factors. Also, with pricing power returning, the IT-services sector is closing in on FMCG fundamentals. Lastly, mid-caps will continue to trade at a premium to large-caps in the near to medium term, driven by a never-before outperformance in revenue growth relative to large-caps for at least the next two years," they said. Read more

Today (11th June 2021)Shares of information technology (IT) companies were in demand on the bourses with Wipro and Tech Mahindra hitting all-time highs, while Tata Consultancy Services (TCS) and Infosys were quoting close to their respective record highs on the BSE. Besides Wipro and Tech Mahindra, a total of 10 stocks including Mastek, Mindtree, Happiest Minds Technologies, Mphasis, and Coforge too hit their new highs in Friday's intra-day deals.TCS, meanwhile, gained 3 percent to quote at Rs 3,309, while Infosys was up 2 percent at Rs 1,451.55. TCS had hit a record high of Rs 3,358 on April 9, 2021, and Infosys had touched a high of Rs 1,480 on April 12. Among other individual stocks, Tech Mahindra hit a record high of Rs 1,082, up 2 percent on the BSE, surpassing its earlier high of Rs 1,081.35 touched on January 11, 2021. In the past one week, the stock has gained 6 percent. Read more

Shares of Coforge IT firm gained 17 percent intraday on May 6 and hits 52 weeks high of Rs 3449 after the company declared a17 percent rise in consolidated net profit at Rs 133 crore in the three months ended March 2021. The company had posted a net profit of Rs 113.6 crore in the year-ago period, Coforge said in a regulatory filing. Consolidated revenue grew 7.1 percent sequentially in dollar terms to USD 172.1 million during the January-March quarter. Revenue in constant currency (CC) terms grew 5.1 percent over the preceding quarter. In rupee terms, revenue was up by 6 percent sequentially and up by 13.7 percent year-on-year (YoY) at Rs 1,261 crore during Q4FY21. The company’s profit after tax (PAT) for the quarter increased 17 percent year-on-year to Rs 133 crore. Read more