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Coforge Plunges 4%; BSE IT Index Down 2.2%
Mon, 5 Aug 9:49

Coforge Plunges 4%; BSE IT Index Down 2.2%Image source: peterschreiber.media/www.istockphoto.com

Coforge share price has plunged 4% and is presently trading at Rs 5,814.4.

Meanwhile, the BSE IT index is at 39,725.2 (down 2.2%).

Among the top losers in the BSE IT index today are Mphasis (down 3.6%) and PERSISTENT SYSTEMS (down 3.3%).

INFIBEAM AVENUES (up 1.5%) is among the top gainers today.

Over the last one year, Coforge has moved up from Rs 4,841.7 to Rs 5,814.4, registering a gain of Rs 972.7 (up 20.1%).

On the other hand, the BSE IT index has moved up from 30,586.1 to 39,725.2, registering a gain of 29.9% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 162.1%), INFIBEAM AVENUES (up 117.7%) and Firstsource Solutions (up 96.7%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,456.2 (down 1.9%).

The top losers among the BSE Sensex today are Tata Motors (down 4.2%) and JSW Steel (down 3.5%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,271.4 (down 1.8%). Tata Motors and Hindalco are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,459.3 to 79,456.2, registering a gain of 12,996.8 points (up 19.6%).

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 48.5.

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