Global IT solutions provider Coforge (formerly NIIT Technologies) surpassed $1 billion (over Rs 8,014 crore) in revenue in FY23, registering PAT at Rs 8,117 million (Rs 811 crore), up 22.7 per cent (on-year), it announced on Thursday. Benchmark

Good news! This company is giving 21,000 iPads to its employees - Benchmark

Arvind Mehrotra had traded in the shares of the firm while in possession of the unpublished price sensitive information (UPSI) related to the dispute between the company’s subsidiary and its client in the APAC region.

SEBI bans person from capital markets; imposes fine in NIIT tech insider trading case

COFORGE LTD. Consolidated March 2022 Net Sales at Rs 1,742.90 crore, up 38.16% Y-o-Y

Revenue from operations during the quarter increased to Rs 1,742.9 crore from Rs 1,281.5 crore in the corresponding quarter of 2020-21

IT firm Coforge’s Q4 net profit increases by 56.16% to Rs 207.7 crore

Coforge consolidated net profit rises 56.17% in the March 2022 quarter

Based on the open interest future percentage, there were 84 stocks in which short-covering was seen including Kotak Mahindra Bank, UltraTech Cement, Bosch, Coforge, and JK Cement.

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Coforge’s management raised its organic constant currency revenue growth guidance from 22% to 24% for FY22 backed by strong deal inflows and a robust deal pipeline

Coforge stock jumps 8% on higher FY22 revenue growth guidance

Mindtree and Mphasis were also bullish, Coforge remained under pressure post Q2 earnings.

Nifty IT Index trades flat; Tech Mahindra hits fresh 52-week high; TCS, Wipro under pressure

Prabhudas Lilladher is bullish on Coforge has recommended buy rating on the stock with a target price of Rs 5596 in its research report dated October 25, 2021.

Buy Coforge Target Of Rs 5596: Prabhudas Lilladher

Arihant Capital recommended accumulate rating on Coforge with a target price of Rs 6068 in its research report dated October 25, 2021.

Accumulate Coforge; Target Of Rs 6068: Arihant Capital

Despite the current corrective phase in IT sector, the overall positive bias seems to be intact for these IT stocks as they hold crucial support levels

Mindtree, Coforge: These IT stocks look good on charts despite correction

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Financials growth has been moderate for a few years

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Coforge Ltd is engaged in the business of application development and maintenance, managed services, cloud computing and business process outsourcing.

Coforge Ltd