COFORGE Share Price Down by 5%; BSE IT Index Down 1.8%

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COFORGE Share Price Down by 5%; BSE IT Index Down 1.8%
Mon, 18 Jan 03:30 PM

COFORGE share price has plunged 5% and is presently trading at Rs 2,654.

Meanwhile, the BSE IT Index is at 26,396 (down 1.8%).

Among the top losers in the BSE IT Index today are COFORGE (down 5.0%) and L&T INFOTECH (down 6.8%).

TATA ELXSI (up 5.6%) and FIRSTSOURCE SOLUTIONS (up 0.4%) are among the top gainers today.

Over the last one year, COFORGE has moved up from Rs 1,806 to Rs 2,654, registering a gain of Rs 849 (up 47.0%)..

The BSE IT has moved up from 16,167 to 26,396, registering a gain of 10,229 points (up 63.3%) during the last 12 months.

The top buzzing stocks among the BSE IT Index stocks during this same period were TATA ELXSI (up 175.6%), PERSISTENT SYSTEMS (up 133.1%) and FIRSTSOURCE SOLUTIONS (up 115.4%).

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What About the Benchmark Indices?

The BSE Sensex is at 49,122 (down 1.1%). The top gainers among the BSE Sensex stocks today are RELIANCE IND. (up 2.0%), TITAN (up 1.6%) and HDFC BANK (up 1.0%). Other gainer include ITC (up 0.3%). The most traded stocks in the BSE Sensex are ITC and RELIANCE IND..

In the meantime, NSE Nifty is at 14,459 (down 1.3%). UPL (up 6.3%) and RELIANCE IND. (up 2.2%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 41,953 to 49,122, registering a gain of 7,169 points (up 15.57%).

COFORGE Financial Update...

COFORGE net profit down at Rs 1 billion for the quarter ended September 2020, compared to a loss of Rs 1 billion a year ago. Net Sales rose 7.5% to Rs 11.5 billion during the period as against Rs 10.7 billion in July-September 2019.

For the year ended March 2018, COFORGE reported 4.9% increase in net profit to Rs 3.1 billion compared to net profit of Rs 2.9 billion during FY17.

Revenue of the company grew 6.8% to Rs 30 billion during FY18.

The current Price to earnings ratio of COFORGE, based on rolling 12 month earnings, stands at 33.6x.



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