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Coforge Gains 7%; BSE IT Index Up 0.5%
Wed, 23 Oct 9:40

Coforge Gains 7%; BSE IT Index Up 0.5%Image source: Sakorn BernardaSv/www.istockphoto.com

Coforge share price has zoomed 7% and is presently trading at Rs 7,298.7.

Meanwhile, the BSE IT index is at 41,592.7 (up 0.5%).

Among the top gainers in the BSE IT index today are PERSISTENT SYSTEMS (up 5.8%) and Firstsource Solutions (up 2.4%).

TANLA SOLUTIONS (down 1.6%) and INDIAMART INTERMESH (down 1.3%) are among the top losers today.

Over the last one year, Coforge has moved up from Rs 4,923.8 to Rs 7,298.7, registering a gain of Rs 2,374.9 (up 48.2%).

On the other hand, the BSE IT index has moved up from 31,255.0 to 41,592.7, registering a gain of 33.1% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 179.3%), Firstsource Solutions (up 101.0%) and PERSISTENT SYSTEMS (up 87.8%).

Don't Miss: Key Information for Long-term Investors

What About the Benchmark Indices?

The BSE Sensex is at 80,246.3 .

The top gainers among the BSE Sensex today are Bajaj Finance (up 3.3%) and Bajaj Finserv (up 1.7%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,469.9 . NTPC and Power Grid Corp. are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 80,246.3, registering a gain of 15,674.4 points (up 24.3%).

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 60.9.

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