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Coforge Gains 4%; BSE IT Index Up 1.4%
Thu, 4 Jul 11:13

Coforge Gains 4%; BSE IT Index Up 1.4%Image source: asbe/www.istockphoto.com

Coforge share price has zoomed 4% and is presently trading at Rs 5,875.0.

Meanwhile, the BSE IT index is at 38,648.2 (up 1.4%).

Among the top gainers in the BSE IT index today are Mastek (up 3.1%) and Sonata Software (up 2.7%).

CYIENT (down 0.6%) and Tech Mahindra (down 0.5%) are among the top losers today.

Over the last one year, Coforge has moved up from Rs 4,684.3 to Rs 5,875.0, registering a gain of Rs 1,190.7 (up 25.4%).

On the other hand, the BSE IT index has moved up from 29,747.6 to 38,648.2, 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 174.5%), Birlasoft (up 103.4%) and ZENSAR TECHNOLOGIES (up 97.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,160.9 (up 0.2%).

The top gainers among the BSE Sensex today are HCl Tech. (up 2.6%) and ICICI Bank (up 1.8%). The most traded stocks in the BSE Sensex are Tata Motors and HDFC Bank.

In the meantime, NSE Nifty is at 24,339.0 (up 0.2%). HCl Tech. and ICICI Bank are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,205.1 to 80,160.9, registering a gain of 14,955.9 points (up 22.9%).

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 46.9.

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