Coforge Ltd (COFORGE)

Mixed News for Coforge Ltd Stock - 24 Jul, 2024

Coforge Ltd's Q1 2025 earnings missed expectations, while receiving a buy rating and seeing a rise in stock price. Emkay Global Financial reduced its rating to Reduce with a revised target price of Rs.6200/share.

Coforge Reports Q1 Results; Declares Interim Dividend - 23 Jul, 2024

Coforge Ltd.'s Q1 FY25 net profit declined significantly, but revenue from operations rose slightly. The company declared an interim dividend of Rs 19 per share. Order intake was $314 million, and the total order book executable over the next 12 months was at $1,070 million.

Coforge Ltd Delivers 374% TSR in Last 5 Years - 15 Jul, 2024

Coforge Ltd has delivered a total shareholder return (TSR) of 374% over the last five years, with earnings per share growing at 13% annually. Shareholders are up 23% for the year and longer-term returns look promising.

Coforge Ltd Drops for Fifth Straight Session - 11 Jul, 2024

Coforge Ltd's stock dropped 1.44% to Rs 5587.5 on the NSE, marking its fifth straight session of decline. The company has gained around 7.88% in the last month while the Nifty IT index increased by 7.87%. The volume in the stock stood at 2.12 lakh shares today compared to the daily average of 5.28 lakh shares in the last month.

Coforge Receives Outperform Rating from Bernstein - 10 Jul, 2024

Global brokerage firm Bernstein has given Coforge an outperform rating with a target price of Rs 6,080 per share. The company's recent acquisition of Cigniti may face headwinds due to AI disruption. However, the company has made significant strides in the AI business and is committed to innovation in AI technology.

Bernstein Initiates Coverage on Coforge Ltd - 09 Jul, 2024

Bernstein Research has initiated coverage on engineering services companies, including Coforge Ltd, with a market-perform rating and a target price of Rs 6,080 per share. The company's specialisation in auto and software services is expected to have long growth headroom.

Coforge Acquires Stake in Cigniti Technologies - 08 Jul, 2024

Coforge has acquired an additional 16.92% stake in Cigniti Technologies at Rs 1,398.50 per share, bringing its total ownership to 27.98%. The acquisition triggered the resignation of five out of six directors on Cigniti's board.

Coforge Acquires Stakes in Cigniti Technologies - 05 Jul, 2024

Coforge Ltd has acquired an 11% stake in Cigniti Technologies for Rs 426 crore and an additional 3.1 million equity shares, while also acquiring a 17% stake for Rs 645 crore, making it the largest shareholder. The acquisition is expected to be completed by Q2 FY25.

Coforge Acquires 11.06% Stake in Cigniti Technologies - 04 Jul, 2024

Coforge Ltd has acquired an 11.06% stake worth Rs 426.68 crore in Cigniti Technologies through open market transactions, after receiving approval from the Competition Commission of India to acquire a majority stake. The company will be acquiring at least 50.21% and up to 54% stake on a fully diluted basis.

Coforge Ltd Stock Up 0.47% on NSE - 03 Jul, 2024

Coforge Ltd stock is up by 0.47% to Rs 5680.1 on the NSE as of 12:44 IST. The stock has gained 20.63% in the last year, outperforming the NIFTY and Nifty IT indices.

Coforge Actively Hiring for Key AI Roles - 02 Jul, 2024

Coforge is hiring for key AI roles such as Prompt Engineers, AI Scientists, and Core Gen AI Engineers. The demand for AI resources is increasing in both existing and new engagements.

Coforge Rises Ahead of Q1 Earnings Report - 01 Jul, 2024

Coforge Ltd's stock rose ahead of its Q1FY25 earnings report as JM Financial issued a buy call with a target price of Rs 5570. The Nifty IT index gained 2%, with Coforge rising 2-4%. The stock is up 18.16% YoY.

Coforge Recognized as Exceptional Performer in UK IT Sourcing Study - 28 Jun, 2024

Coforge has been recognized as an exceptional performer in the 2024 UK IT Sourcing Study conducted by Whitelane Research, highlighting top-performing IT service providers based on extensive feedback from clients.

Kotak Initiates Coverage on Coforge Ltd with Positive Outlook - 27 Jun, 2024

Kotak Institutional Equities has initiated coverage on Coforge Ltd with an Add rating and a target price of Rs 6,000 per share. The brokerage highlights ongoing improvements in earnings and praises the CEO and leadership team for laying a strong foundation for sustained growth.

Coforge Receives Approval for Majority Stake Acquisition of Cigniti Technologies - 26 Jun, 2024

The Competition Commission of India has approved Coforge's acquisition of a 54% majority stake in Cigniti Technologies, enabling the firm to become a $2 billion company by FY27 and expand its North America revenue by 33%. The merged firms retail vertical will operate at close to $100 million per annum, while the hi-tech and healthcare verticals will be operating at around $50 million per annum size immediately post-merger.