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Coforge Gains 4%; BSE IT Index Up 2.0%
Wed, 28 Aug 12:4

Coforge Gains 4%; BSE IT Index Up 2.0%Image source: Nikada/www.istockphoto.com

Coforge share price has zoomed 4% and is presently trading at Rs 6,304.3.

Meanwhile, the BSE IT index is at 43,553.2 (up 2.0%).

Among the top gainers in the BSE IT index today are LTIMINDTREE (up 6.4%) and Wipro (up 3.8%).

Tata Elxsi (down 5.6%) and TANLA SOLUTIONS (down 0.6%) are among the top losers today.

Over the last one year, Coforge has moved up from Rs 5,171.2 to Rs 6,304.3, registering a gain of Rs 1,133.1 (up 21.9%).

On the other hand, the BSE IT index has moved up from 31,145.7 to 43,553.2, registering a gain of 39.8% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 177.8%), INFIBEAM AVENUES (up 123.6%) and PERSISTENT SYSTEMS (up 99.3%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,961.2 (up 0.3%).

The top gainers among the BSE Sensex today are Infosys (up 2.5%) and Indusind Bank (up 2.2%). The most traded stocks in the BSE Sensex are Tata Steel and Infosys.

In the meantime, NSE Nifty is at 25,094.3 (up 0.3%). LTIMINDTREE and Wipro are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,996.6 to 81,961.2, registering a gain of 16,964.6 points (up 26.1%).

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 52.6.

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