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Coforge Gains 2%; BSE IT Index Up 1.0%
Tue, 2 Jul 13:20

Coforge Gains 2%; BSE IT Index Up 1.0%Image source: DNY59/www.istockphoto.com

Coforge share price has zoomed 2% and is presently trading at Rs 5,637.2.

Meanwhile, the BSE IT index is at 38,001.1 (up 1.0%).

Among the top gainers in the BSE IT index today are Firstsource Solutions (up 3.7%) and Wipro (up 2.3%).

Mastek (down 1.4%) and KPIT TECHNOLOGIES (down 1.3%) are among the top losers today.

Over the last one year, Coforge has moved up from Rs 4,666.1 to Rs 5,637.2, registering a gain of Rs 971.1 (up 20.8%).

On the other hand, the BSE IT index has moved up from 29,192.0 to 38,001.1, registering a gain of 30.2% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 163.4%), Birlasoft (up 102.9%) and ZENSAR TECHNOLOGIES (up 97.1%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 79,412.8 (down 0.1%).

The top losers among the BSE Sensex today are Kotak Bank (down 3.5%) and Indusind Bank (down 2.2%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 24,104.5 (down 0.2%). Kotak Bank and Shriram Transport are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,915.4 to 79,412.8, registering a gain of 15,497.4 points (up 24.2%).

Coforge Financial Update...

Coforge net profit grew 96.4% YoY to Rs 2,292 million for the quarter ended March 2024, compared to a profit of Rs 1,167 million a year ago. Net sales rose 8.7% to Rs 23,585 million during the period as against Rs 21,700 million in January-March 2023.

For the year ended March 2023, Coforge reported 4.3% increase in net profit to Rs 7,451 million compared to net profit of Rs 7,147 million during FY22. Revenue of the company grew 24.6% to Rs 80,146 million during FY23.

The current Price to earnings ratio of Coforge, based on rolling 12 month earnings, stands at 45.0.

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