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Coforge Gains 8%; BSE IT Index Up 4.5%
Fri, 12 Jul 14:10

Coforge Gains 8%; BSE IT Index Up 4.5%Image source: Eoneren/www.istockphoto.com

Coforge share price has zoomed 8% and is presently trading at Rs 5,972.0.

Meanwhile, the BSE IT index is at 39,880.2 (up 4.5%).

Among the top gainers in the BSE IT index today are KPIT TECHNOLOGIES (up 8.8%) and ZENSAR TECHNOLOGIES (up 6.9%).

Over the last one year, Coforge has moved up from Rs 4,611.8 to Rs 5,972.0, registering a gain of Rs 1,360.3 (up 29.5%).

On the other hand, the BSE IT index has moved up from 29,484.7 to 39,880.2, registering a gain of 35.3% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 182.4%), Birlasoft (up 109.3%) and PERSISTENT SYSTEMS (up 104.3%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 80,709.1 (up 1.0%).

The top gainers among the BSE Sensex today are TCS (up 6.8%) and Infosys (up 3.6%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,558.6 (up 1.0%). TCS and Wipro are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,344.2 to 80,709.1, registering a gain of 15,364.9 points (up 23.5%).

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 47.7.

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