The acquisition will be funded through a preferential issue of equity shares worth about $1.89 billion, following which Encora's shareholders are expected to own around 20% of Coforge's share capital
A federal judge, on Tuesday, said the Trump administration can move ahead with a $100,000 fee on new H-1B visa applications
The brokerage's analysis of its universe of stocks revealed that after a prolonged period of earnings cuts, companies are beginning to report earnings upgrades.
Nomura said it prefers Infosys and Cognizant among large-cap IT services firms, Coforge in mid-caps and eClerx in small-caps.
Its top ideas to play the next AI wave are HCLTech and Tech Mahindra in largecaps and Hexaware and Coforge in the midcap space
Nomura, which termed Coforge its "top pick in the mid-cap India IT services sector," said the company is banking on a solution-led sales strategy to maintain its growth trajectory.