Coforge Ltd

The key equity indices ended with minor gains on Tuesday, extending gains for seventh consecutive trading session. The Nifty settled above the 23,650 mark after hitting the day's low of 23,627.55 in early afternoon trade. IT and private bank shares advanced while consumer durables, PSU bank and media stocks witnessed selling pressure. As per provisional closing data, the barometer index, the S&P BSE Sensex added 32.81 points or 0.04% to 78,017.19. The Nifty 50 index rose 10.30 points or 0.04% to 23,668.65. In the past seven trading session, the Sensex and the Nifty jumped 5.67% and 5.68%, respectively. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.13% and the S&P BSE Small-Cap index declined 1.63%. The market breadth was weak. On the BSE, 1,086 shares rose and 2,982 shares fell. A total of 109 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.47% to 13.64. Buzzing Index: The Nifty IT index jumped 1.32% to 37,706.90. The Index jumped 4.1% in the fourth consecutive trading session. Coforge (up 2.41%), Persistent Systems (up 2.3%), Infosys (up 1.86%), Mphasis (up 1.67%) and HCL Technologies (up 1.14%), L&T Technology Services (up 0.61%), Tata Consultancy Services (up 0.43%), Wipro (up 0.35%) surged. Stocks in Spotlight: Britannia Industries added 1.01%. The company said that its plant located in Jhagadia, Gujarat has been partially affected due to a workers' strike. Larsen & Toubro (L&T) shed 0.77%. The company announced that its division, L&T-Cloudfiniti, has partnered with Hanooman AI, CoRover, and Pidima. The collaborations will focus on groundbreaking developments in healthcare, life sciences, vertical AI, and conversational technologies in India and globally. Adani Enterprises declined 2.05%. The company has announced that its wholly owned subsidiary, Adani New Industries (ANIL), has incorporated a wholly owned subsidiary, Adani New Industries One (ANIOL). NBCC (India) slipped 2.80%. The company announced that it has received two work orders totaling Rs 658.43 crore from Uttarakhand Investment and Infrastructure Development Board (UIIDB) and Centre for Development of Telematics (C-DOT). Bajel Projects fell 1.74%. The company announced that it has secured a large EPC order from Madhya Pradesh Power Transmission Corporation (MPPTCL). The cost of the project is estimated to be between Rs 100 crore and Rs 200 crore, and it is expected to be completed within 24 months from the date of the notification of the award. Kalpataru Projects International rallied 4.07% after the company and its international subsidiaries secured new orders worth Rs 2,366 crore. Mahindra & Mahindra Financial Services declined 1.06%. The company announced that its board has approved the appointment of Ramganesh Iyer as the chief operating officer (COO) of the company, effective from 10 April 2025. Brigade Enterprises lost 1.98%. The company has announced the acquisition of a 4.4-acre land parcel in Whitefield, East Bengaluru, for the development of a premium residential project. The project is expected to have a gross development value (GDV) approximately Rs 950 crore. Global Markets: European shares advanced on Tuesday as British oil major shell announced plans to increase shareholder returns and cut spend as it doubles down on its liquified natural gas (LNG) push. Asian stocks traded mixed, as investors assessed U.S. President Donald Trump's tariff threats. In China, the central bank announced changes to the way it sells medium-term loans, a move that market participants believe could further diminish the role of such instruments in guiding monetary policy. The People's Bank of China (PBOC) stated it will issue 450 billion yuan ($62.03 billion) in one-year medium-term lending facility (MLF) loans on Tuesday. Starting this month, MLF operations will be conducted using a fixed-quantity, interest-rate bidding, and multiple-price bidding method, the PBOC added. On Wall Street, U.S. indices surged on Monday amid reports that Trump's April 2 tariffs will be less harsh than previously feared. The Dow Jones Industrial Average jumped 1.42%, the S&P 500 climbed 1.76%, and the tech-heavy Nasdaq Composite soared 2.27%. Tesla shares, which had been declining for nine consecutive weeks, rebounded nearly 12%, building on their Friday gains. Meta Platforms and Nvidia also saw gains of more than 3%. Meanwhile, 23AndMe Holding Co plummeted 59% after filing for Chapter 11 bankruptcy protection. The economic activity in the US' private sector expanded at an accelerating pace in March, with the S&P Global Composite PMI rising to 53.5 (preliminary) from 51.6 in February. The Services PMI climbed to 54.3 in March from 51 in February, while the manufacturing PMI declined to 49.8 in March from 52.7 February. Wall Street has been under pressure in recent weeks amid concerns that Trump's tariffs could drive up inflation, disrupt global trade, and slow economic growth. Earlier this month, major indices slumped to six-month lows on such fears. While Trump has repeatedly described April 2 as 'liberation day' for the U.S., investors found some relief in signs that the tariffs' scope may be narrower than initially expected, potentially limiting their economic impact.Powered by Capital Market - Live

Coforge will hold a meeting of the Board of Directors of the Company on 5 May 2025.Powered by Capital Market - Live

Coforge has elevated its collaboration with ServiceNow, the AI platform for business transformation. As part of this engagement, Coforge will combine its market leading AI framework Quasar with ServiceNow AI Agents to launch a GenAI Center of Excellence (CoE) in Greater Noida, India that will empower organizations to harness advanced AI-driven insights, streamline operations, and deliver exceptional customer experiences. As part of the Gen AI CoE, customers can pilot, navigate, and scale innovative solutions to address industry-specific challenges by leveraging the full potential of AI with ServiceNow. Coforge has over 12 domain centric, industry first solutions on ServiceNow platform across Financial Services, Insurance, Healthcare and Travel. The CoE will be a great foundation for Coforge to accelerate clients' journey with ServiceNow platform, especially in the areas of payment, fraud detection, dispute management and digital operations resiliency. Powered by Capital Market - Live

Coforge has approved the allotment of 5,757 equity shares on March 08, 2025, having face value of Rs. 10/- each on exercise of options under Employee Stock Option Plan of the Company.Powered by Capital Market - Live

The company's board approved sub division of one existing equity share having face value of Rs 10 each into five equity shares of Rs 2 each, subject to approval of the members of the Company. The record date for sub-division / split of existing equity shares will be intimated in due course. The sub division is expected to be completed within three months from the approval of the members. Meanwhile, the company's wholly owned subsidiary, Coforge Inc., has agreed to enter into a stock purchase agreement with Rythmos Inc. and its stockholders to acquire all of the outstanding shares of capital stock of Rythmos Inc. Further, the company's wholly owned -owned step-down subsidiary, Coforge Technologies Australia Pty, has agreed to enter into a share sale agreement with TMLabs Pty Ltd and its shareholders to acquire all of the outstanding shares of TMLabs Pty Ltd. Coforge is a global digital services and solutions provider that leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients. The firm has a presence in 21 countries with 26 delivery centers across nine countries. The company reported 9.5% rise in net profit, excluding minority interest, to Rs 255.9 crore in Q3 FY25 from Rs 233.6 crore in Q2 FY25. The company's gross revenues increased by 8.4% quarter-on-quarter (QoQ) to Rs 3,318.2 crore in the December 2024 quarter.Powered by Capital Market - Live

The Board of Coforge at its meeting held on 04 March 2025 has approved the following acquisitions: (a) The company, through its wholly owned subsidiary, Coforge Inc., has agreed to enter into a stock purchase agreement with Rythmos Inc. and its stockholders (Stock Purchase Agreement) to acquire all of the outstanding shares of capital stock of Rythmos Inc. (Rythmos Transaction), subject to completion of closing conditions and closing deliverables as per the Stock Purchase Agreement; and (b) The company, through its wholly-owned step-down subsidiary, Coforge Technologies Australia Pty Ltd, has agreed to enter into a share sale agreement with TMLabs Pty Ltd and its shareholders (Share Sale Agreement) to acquire all of the outstanding shares of TMLabs Pty Ltd (TMLabs Transaction), subject to completion of closing conditions and closing deliverables as per the Share Sale Agreement. Powered by Capital Market - Live

The Board of Coforge at its meeting held on 04 March 2025 has approved the alteration in the equity share capital of the Company by sub-division of existing equity shares of face value of Rs. 10 each, fully paid-up into 33,43,65,495 equity shares of face value of Rs. 2 each, fully paid-up. Powered by Capital Market - Live

Coforge will hold a meeting of the Board of Directors of the Company on 4 March 2025.Powered by Capital Market - Live

Coforge Ltd is down for a fifth straight session today. The stock is quoting at Rs 7753.9, down 1.54% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.87% on the day, quoting at 22830.85. The Sensex is at 75660.79, down 0.63%.Coforge Ltd has lost around 9.66% in last one month.Meanwhile, Nifty IT index of which Coforge Ltd is a constituent, has eased around 5.13% in last one month and is currently quoting at 41315.55, down 0.34% on the day. The volume in the stock stood at 2.46 lakh shares today, compared to the daily average of 5.38 lakh shares in last one month. The benchmark February futures contract for the stock is quoting at Rs 7832.45, down 0.92% on the day. Coforge Ltd jumped 16.69% in last one year as compared to a 4.2% rally in NIFTY and a 8.36% spurt in the Nifty IT index.The PE of the stock is 74.08 based on TTM earnings ending December 24.Powered by Capital Market - Live

Coforge Ltd is up for a fifth straight session today. The stock is quoting at Rs 8562.95, up 0.49% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.09% on the day, quoting at 23583.2. The Sensex is at 77886.15, down 0.22%. Coforge Ltd has slipped around 10.41% in last one month. Meanwhile, Nifty IT index of which Coforge Ltd is a constituent, has slipped around 1.64% in last one month and is currently quoting at 43020.95, down 0.24% on the day. The volume in the stock stood at 1.53 lakh shares today, compared to the daily average of 5.61 lakh shares in last one month. The benchmark February futures contract for the stock is quoting at Rs 8536.55, up 0.01% on the day. Coforge Ltd is up 29.58% in last one year as compared to a 8.59% jump in NIFTY and a 13.39% jump in the Nifty IT index.The PE of the stock is 80.15 based on TTM earnings ending December 24.Powered by Capital Market - Live