COFORGE at All Time High; BSE IT Index Up 0.7%

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COFORGE at All Time High; BSE IT Index Up 0.7%
Fri, 16 Apr 12:02 PM

COFORGE share price has hit an all-time high at Rs 3,205 (up 5.3%).

Meanwhile, the BSE IT Index is at 27,073 (up 0.7%).

Among the top gainers in the BSE IT Index today are COFORGE (up 5.3%) and L&T INFOTECH (up 2.1%).

HEXAWARE TECHNOLOGIES and L&T TECHONOLOGY (down 0.1%) are among the top losers today.

Over the last one year, COFORGE has moved up from Rs 1,074 to Rs 3,205, registering a gain of Rs 2,131 (up 198.5%).

The BSE IT has moved up from 12,662 to 27,073, registering a gain of 14,411 points (up 112.6%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were INTELLECT DESIGN (up 866.2%), TATA ELXSI (up 347.7%) and PERSISTENT SYSTEMS (up 287.3%).

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What About the Benchmark Indices?

The BSE Sensex is at 49,069 (up 0.3%). The top gainers among the BSE Sensex stocks today are ULTRATECH CEMENT (up 3.2%), ASIAN PAINTS (up 2.9%) and M&M (up 2.7%). Other gainers include POWER GRID (up 2.6%) and HCL TECHNOLOGIES (up 2.0%). The most traded stocks in the BSE Sensex are SBI and BHARTI AIRTEL.

In the meantime, NSE Nifty is at 14,690 (up 0.5%). The top gainers in the NSE Nifty include WIPRO (up 9.1%), HINDALCO (up 4.9%) and BPCL (up 4.0%). Other gainers include ULTRATECH CEMENT (up 3.1%) and ASIAN PAINTS (up 2.8%).

Over the last 12 months, the BSE Sensex has moved up from 30,690 to 49,069, registering a gain of 18,379 points (up 59.5%).

COFORGE Financial Update...

COFORGE net profit down at Rs 1 billion for the quarter ended December 2020, compared to a loss of Rs 1 billion a year ago. Net Sales rose 10.9% to Rs 11.9 billion during the period as against Rs 10.7 billion in October-December 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 43.5x.



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