Page 3 - Coforge

Coforge Q3 results: Adjusted PAT rises 10.3% to Rs 268 cr, revenue up 8.4%

Coforge has posted a 10 per cent growth in adjusted net profit for the December quarter to Rs 268 crore, as its CEO exuded confidence that the coming year will continue to see robust and sustained growth for the IT solutions company. The profit attributable to the owners of Coforge, however, dipped to Rs 215.5 crore from Rs 238 crore in the year-ago period. The company officials attributed this to the minority interest factor with regard to its current 54 per cent holding in Cigniti Technologies, which is set to merge with Coforge with effect from April 1, 2025. For the just-ended quarter, the adjusted PAT at Rs 268 crore (excluding minority factor), was up 10.3 per cent on a year-on-year basis, the company said in a release. The revenue stood at Rs 3,318.2 crore, up 8.4 per cent quarter-on-quarter, and 40.3 per cent year-on-year in constant currency terms. The board has recommended an interim dividend of Rs 19 per share, and the record date for this payout will be January 30, ...

Cigniti Technologies slips 8% after board approves merger with Coforge

Coforge will absorb Cigniti and as per the announced swap ratio, Cigniti's shareholders will receive one equity share of Coforge for every five shares of Cigniti held by them

Nifty IT hits life high, tops 46,000; why are IT stocks in demand today?

The rupee fell 2 paise to near all-time low of 84.85 against the US dollar in early trade on Thursday on the back of foreign fund outflows and rising crude oil prices

Nifty IT index hits record high on December 10: Here's what drove the rally

By 11:11 AM, the Nifty IT index had come off its peak but was still trading 0.82 per cent higher at 45,199.40. In comparison, the broader Nifty50 index was up a modest 0.11 per cent at 24,646.30

Coforge, Wipro, TCS, LTTS rally 11% in one month; Nifty IT hits record

The Nifty IT index hit an all time high on Tuesday, reaching 44,244.60 level, up 1.43 per cent intraday. Meanwhile in the last 30 days, the index has surged 5.24 per cent

Indian Hotels, Federal Bank, Coforge from BSE Midcap index hit record highs

Shares of Coforge hit a new high of Rs 8,236.95, gaining 3%, and zooming 71% in six months, on a strong growth outlook.

IT shares buck trend; Wipro, Infy, TechM gain 2%; Coforge hits new high

At 12:23 pm; the Nifty IT index was the top gainer among sectoral indices, up 1 per cent, as compared to 0.31 per cent decline in the Nifty 50.

Coforge stock zooms 9% on strong Q2FY25 results, bulging order book

Shares of Coforge surged up to 8.85 per cent at Rs 7397.25 a piece on the BSE on Wednesday

Coforge Q2FY25 results: Net profit rises nearly 12% to Rs 202.3 crore

IT solutions company Coforge reported an 11.7 per cent year-on-year increase to Rs 202.2 crore in consolidated net profit for the quarter ended in September. It had posted a net profit (attributable to owners of the company) of Rs 181 crore in the year-ago period, according to a stock exchange filing. Revenue from operations for the quarter under review stood at Rs 3,062.3 crore, a 34.5 per cent rise from Rs 2,276.2 crore in Q2 FY24. Its profit and revenue jumped 51.8 per cent and 27.5 per cent, respectively. The Noida-headquartered firm added 5,871 staff during the quarter, including 4,430 from its acquisition of Cigniti. This brings its total employee count to 32,483. "The growth and the margin expansion at Cigniti are a preview of sustained growth and further increases in margin to follow. We have operationally fully integrated the Cigniti team and the synergies have exceeded even our expectations," said Sudhir Singh, CEO and Executive Director, Coforge. The company's board ..

Nifty IT index surges nearly 3%; Coforge, Persistent zoom 12% on strong Q2

Analysts anticipate growth momentum to return in FY25 for IT sector, aided by a lower base coupled with easing sectoral headwinds.

FIIs least bullish since June; OI in Nifty futures down at 3 lakh contracts

Derivatives market update Oct 17: FIIs long-short ratio in index futures dropped to 0.5 its lowest point since June 07. Among stocks, ICICI General Insurance and CoForge saw short build-up yesterday.

Dividend, stock-split: Coforge, Softsol, 4 others under spotlight today

Here is the full list of stocks that will trade ex-date tomorrow for major corporate announcements, such as dividends, rights issue, subdivision, and demerger

Coforge gains 2%, hits record high on Rs 19 per share interim dividend

The company has fixed October 11, as the record date to ascertain the eligibility of shareholders for the payment of the second interim dividend.

Why did Mphasis, Nifty IT gain up to 4% after US Fed cut rates by 50 bps?

The surge in IT stocks was fuelled by the US Federal Reserve's decision to cut interest rates by 50 basis points, lowering the target range to 4.75 per cent to 5 per cent.

IT shares in demand; Coforge up 6% as Motilal Oswal upgrades stock to 'Buy'

The IT sector is on the cusp of a mild but possibly sustained recovery in client spending, and the impending rate cut cycle should add to the sector tailwinds, according to MOFSL.

F&O Insights: FIIs cover shorts in Bank Nifty; 24,600 is the key for Nifty

Derivatives market update: In the last 4 trading sessions, the Nifty and Bank Nifty, both, have witnessed short-covering as prices rose on the back of 20% and 16% decline in open interest.

Technology shares in demand; Nifty IT index rises 2%, TCS nears record high

The Nasdaq rose more than 2% on Thursday after July the US retail sales data signalled resilient consumer spending, allaying fears of an imminent recession in the world's largest economy.

Wipro, Coforge among firms with highest paid IT CEOs in FY24: Check list

Coforge CEO Sudhir Singh's annual remuneration in FY24 stood at Rs 105.12 crore, positioning him at the second spot after Wipro's former CEO Thierry Delaporte

Coforge buys 17% stake in Cigniti Technologies for Rs 645 cr via block deal

IT company Coforge on Friday bought a 17 per cent stake in Cigniti Technologies for Rs 645 crore through open market transactions. According to the block deal data available with the BSE, Coforge purchased a total of 46,18,199 shares or 16.9 per cent stake in Cigniti Technologies. The shares were acquired at an average price of Rs 1,398.5 apiece, taking the transaction value to Rs 645.85 crore. Meanwhile, Kukunuru Madhava Lakshmi and Kukunuru Kumar Bapuji, public shareholders of Cigniti Technologies have exited the firm by selling their entire 6.83 per cent stake in the firm. In addition, Sapna P and Venkata Subramanyam Chakkilam, one of the promoters of Ciginiti, also offloaded shares in the company. A total of 46.18 lakh shares of Cigniti were sold by Kukunuru Madhava Lakshmi, Kukunuru Kumar Bapuji, Sapna and Chakkilam at the same price. Shares of Cigniti Technologies fell 1.28 per cent to close at Rs 1,367.20 per piece on the NSE. On Thursday, digital services and solutions .

Nomura has high hopes from Infosys, Coforge ahead of Q1FY25 results

Given the bottoming out of revenue growth rate, analysts expect the earnings per share (EPS) downgrade cycle to come to an end for the sector