COFORGE at All Time High; BSE IT Index Down 0.4%

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COFORGE at All Time High; BSE IT Index Down 0.4%
Thu, 17 Sep 09:30 AM

COFORGE share price has hit an all-time high at Rs 2,216 (up 1.3%).

Meanwhile, the BSE IT Index is at 19,786 (down 0.4%).

Among the top gainers in the BSE IT Index today are COFORGE (up 1.3%) and ORACLE FINANCIAL .

SONATA SOFTWARE and L&T INFOTECH LTD (down 0.3%) are among the top losers today.

Over the last one year, COFORGE has moved up from Rs 1,382 to Rs 2,216, registering a gain of Rs 834 (up 59.9%).

The BSE IT has moved up from 15,994 to 19,786, registering a gain of 3,792 points (up 23.6%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were INFIBEAM AVENUES (up 101.5%), PERSISTENT SYSTEMS (up 101.4%) and TATA ELXSI (up 90.7%).

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What About the Benchmark Indices?

The BSE Sensex is at 39,141 (down 0.5%). The top gainers among the BSE Sensex stocks today are ONGC (up 1.5%), HCL TECHNOLOGIES (up 1.0%) and NESTLE (up 0.4%). Other gainers include RELIANCE IND. (up 0.2%) and MARUTI SUZUKI (up 0.1%). The most traded stocks in the BSE Sensex are ONGC and RELIANCE IND..

In the meantime, NSE Nifty is at 11,563 (down 0.4%). The top gainers in the NSE Nifty include ZEE ENTERTAINMENT (up 3.3%), ONGC (up 1.4%) and DR. REDDYS LAB (up 1.4%). Other gainers include GRASIM (up 1.2%) and HCL TECHNOLOGIES (up 1.1%).

Over the last 12 months, the BSE Sensex has moved up from 37,123 to 39,141, registering a gain of 2,018 points (up 5.3%).

COFORGE Financial Update...

COFORGE net profit down at Rs 829 million for the quarter ended June 2020, compared to a loss of Rs 1 billion a year ago. Net Sales declined 1.5% to Rs 10.6 billion during the period as against Rs 10.7 billion in April-June 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 29.5x.



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