Thursday, March 10, 2022
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.
