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%
Tue, 13 Oct 11:32 AM

COFORGE share price has hit an all-time high at Rs 2,741 (up 1.9%).

Meanwhile, the BSE IT Index is at 22,529 (up 0.7%).

Among the top gainers in the BSE IT Index today are COFORGE (up 1.9%) and ORACLE FINANCIAL .

TCS and INFIBEAM AVENUES (down 0.1%) are among the top losers today.

Over the last one year, COFORGE has moved up from Rs 1,371 to Rs 2,741, registering a gain of Rs 1,370 (up 98.8%).

The BSE IT has moved up from 15,240 to 22,529, registering a gain of 7,289 points (up 47.5%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were PERSISTENT SYSTEMS (up 136.3%), TATA ELXSI (up 126.8%) and INFIBEAM AVENUES (up 118.4%).

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What About the Benchmark Indices?

The BSE Sensex is at 40,787 (up 0.4%). The top gainers among the BSE Sensex stocks today are ULTRATECH CEMENT (up 4.5%), BHARTI AIRTEL (up 2.8%) and HCL TECHNOLOGIES (up 2.1%). Other gainers include POWER GRID (up 1.3%) and KOTAK MAHINDRA BANK (up 1.2%). The most traded stocks in the BSE Sensex are ITC and BHARTI AIRTEL.

In the meantime, NSE Nifty is at 11,988 (up 0.2%). The top gainers in the NSE Nifty include ULTRATECH CEMENT (up 4.4%), SHREE CEMENT (up 3.0%) and BHARTI AIRTEL (up 2.6%). Other gainers include HCL TECHNOLOGIES (up 1.9%) and GRASIM (up 1.8%).

Over the last 12 months, the BSE Sensex has moved up from 38,178 to 40,787, registering a gain of 2,609 points (up 6.7%).

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 36.4x.



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