Coforge has rallied 12 per cent in the last three trading sessions. Technical analyst at Geojit highlights the formation of a higher-high on the weekly chart among key reasons.
Nifty outlook for today: Option data suggests a broader trading range in between 23,200 to 24,100 zones while an immediate range between 23,400 to 23,900 levels.
Prashanth Tapse of Mehta Equities said that while IT stocks have seen some improvement in price, the broader fundamentals of the sector remain challenging due to relatively subdued growth expectations
The Nifty IT index has corrected 27 per cent on a Y-T-D basis, in comparison, the Nifty 50 index has declined 9.5 per cent in the same period.
Nifty IT index has fallen nearly 25 per cent year-to-date, compared with an 8.85 per cent decline in the benchmark Nifty50
Mphasis sues Coforge in a US court, alleging executive poaching and misuse of confidential client information tied to mutual client Charles Schwab
Elara Capital has upgraded its rating to 'Accumulate' from 'Reduce', while Choice Institutional Equities has reaffirmed its 'Buy' rating following the Q4 results
Stocks to Watch today, May 5, 2026: Marico, SRF, United Breweries, Poonawalla Fincorp, Ather Energy, and Punjab National Bank are among the top stocks to watch during today's trading session
LTIMindtree was the top loser, down nearly 6 per cent, followed by Coforge, Infosys, and Mphasis, falling over 5 per cent each
Fernandes to oversee global delivery and key operations, with a mandate to scale execution and accelerate adoption of AI-native practices across engineering and internal systems
Coforge has entered into a strategic partnership with Solstice Innovations, Inc. to accelerate agentic AI-led adoption of modern core insurance technology for P&C insurers
The buying on the counter came after the company received the Reserve Bank of India's (RBI's) approval for overseas investment of more than $1 billion for the deal with Encora
Indian IT firms derive a major portion of revenue from the US market, making them sensitive to changes in interest rate expectations and inflation trends
IT stocks to buy: ICICI Securities has upgraded Coforge to 'BUY' from 'Hold'; Mphasis to 'Buy' from 'Add', based on their attractive valuation and healthy revenue growth visibility
Coforge has won a $158-million, five-year contract from a UK-based client, effective April, as AI-led conversations drive a rise in both the number and size of large technology deals in Europe
The global research and broking house has cut their earnings estimates by 1-4 per cent across IT firms and expects 6 per cent earnings CAGR over FY26-28.
Analysts at Geojit Investments and Choice Broking are bullish on Tech Mahindra stock, and view the current fall as a correction rather than trend reversal.
Technical stock picks by Drumil Vithlani of Bonanza: AIIL shows rebound potential near key support with 5 per cent upside target, while Coforge and Jubilant Foodworks remain in strong downtrends
Budget 2026 has proposed a tax holiday till 2047 for IT companies providing cloud services using India-based data centres.
Dividend stocks today: Here is the complete list of stocks that will remain in focus during today's trading session following their decision to reward their shareholders with dividend payouts