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Coforge Gains 4%; BSE IT Index Up 0.7%
Tue, 10 Sep 9:29

Coforge Gains 4%; BSE IT Index Up 0.7%Image source: hudiemm/www.istockphoto.com

Coforge share price has zoomed 4% and is presently trading at Rs 6,720.5.

Meanwhile, the BSE IT index is at 42,900.0 (up 0.7%).

Among the top gainers in the BSE IT index today are Oracle Financial Services (up 3.2%) and ZENSAR TECHNOLOGIES (up 1.9%).

Eclerx Services (down 0.1%) and TCS are among the top losers today.

Over the last one year, Coforge has moved up from Rs 5,626.8 to Rs 6,720.5, registering a gain of Rs 1,093.7 (up 19.4%).

On the other hand, the BSE IT index has moved up from 32,626.6 to 42,900.0, registering a gain of 31.5% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 167.9%), INFIBEAM AVENUES (up 105.2%) and Firstsource Solutions (up 88.1%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 81,691.1 (up 0.2%).

The top gainers among the BSE Sensex today are Power Grid Corp. (up 1.4%) and Bharti Airtel (up 1.3%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 25,007.0 (up 0.3%). Power Grid Corp. and Divis Laboratories are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,880.5 to 81,691.1, registering a gain of 15,810.6 points (up 24.0%).

Coforge Financial Update...

Coforge net profit fell 20.7% YoY to Rs 1,393 million for the quarter ended June 2024, compared to a profit of Rs 1,757 million a year ago. Net sales rose 8.1% to Rs 24,008 million during the period as against Rs 22,210 million in April-June 2023.

For the year ended March 2024, Coforge reported 12.1% increase in net profit to Rs 8,356 million compared to net profit of Rs 7,451 million during FY23. Revenue of the company grew 14.5% to Rs 91,790 million during FY24.

The current Price to earnings ratio of Coforge, based on rolling 12 month earnings, stands at 56.1.

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