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Coforge Gains 4%; BSE IT Index Down 0.2%
Tue, 23 Jul 9:37

Coforge Gains 4%; BSE IT Index Down 0.2%Image source: Eoneren/www.istockphoto.com

Coforge share price has zoomed 4% and is presently trading at Rs 6,313.2.

Meanwhile, the BSE IT index is at 40,504.3 (down 0.2%).

Among the top gainers in the BSE IT index today are Birlasoft (up 1.1%) and ROUTE MOBILE (up 0.9%).

INTELLECT DESIGN (down 1.8%) and KPIT TECHNOLOGIES (down 1.4%) are among the top losers today.

Over the last one year, Coforge has moved up from Rs 4,876.0 to Rs 6,313.2, registering a gain of Rs 1,437.2 (up 29.5%).

On the other hand, the BSE IT index has moved up from 31,740.5 to 40,504.3, registering a gain of 27.6% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 171.9%), INFIBEAM AVENUES (up 85.9%) and PERSISTENT SYSTEMS (up 82.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,598.3 (up 0.1%).

The top gainers among the BSE Sensex today are Ultratech Cement (up 1.4%) and M&M (up 1.1%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,516.5 . Eicher Motor and Ultratech Cement are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,097.4 to 80,598.3, registering a gain of 13,500.8 points (up 20.1%).

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 50.4.

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