“And as you said that there has been a good sector rotation in the market and there are many stocks in the largecap segment also which are looking very good technically, they are giving fresh breakouts and follow-ups are also being registered, so that is a nice setup we can say. We are finding good … Read more
Mumbai: Information technology shares notched up gains in a weak market on Friday after Accenture raised its revenue guidance for FY25. Early gains, however, fizzled out at close as investors cut their bets on expectation that the upside could be capped in the near-term. HCL Tech and Coforge gained 1.4% and 1.2%, respectively. Mphasis, Persistent … Read more
The technology sector is poised for a robust recovery following a period of discretionary spending cuts. Several factors indicate an upward trend in the coming years, including shifts in client behaviour, increased technology investments, and the rise of new technologies such as Generative AI (GenAI). Key verticals like BFSI, healthcare, and manufacturing are expected to … Read more
Having outperformed the broader Nifty 50 index in the last one year, the Nifty IT index rallied 8.5% in the last 7 consecutive sessions to reach its new peak at 41,7746.55 in Tuesday’s session. The Nifty IT Index has surged 32% last year, with the recent outperformance driven largely by a healthy first quarter, especially … Read more
Domestic brokerage firm Kotak Institutional Equities has initiated coverage on Coforge with a target price of Rs 6,000 an upside potential of 11% as they found the company to be a consistent performer with a potential to reach greater heights. “Coforge displays many traits of a well-run, ambitious mid-tier firm and can scale up to … Read more
Shares of India’s software services exporters on Friday rallied up to 4% during the day as quarterly results of global peer Accenture had a few positive elements such as strong bookings growth and acceleration in growth rates. Shares of Persistent Systems was the top gainer as it rallied over 4% to day’s high of Rs … Read more
Equity indices retreated from a record high on Friday as investors resorted to profit booking. The 30-share Sensex dropped 733 points to settle at 73,878 and Nifty declined 172 points to 22,475. Stocks that were in focus include names like CEAT, which fell 2.93%, Coforge, which was down 10.03%, and ABFRL, whose shares dropped 3.43% … Read more
May 04, 2024, 01:28:39 PM IST With the March quarter earnings season in full swing, brokerages are actively monitoring quarterly performance of companies. During the week, at least 5 stocks earned downgrades while Trent got an upgrade. Here’s the full list: ANI Coforge was downgraded by the global brokerage firm Jefferies as well as InCred. … Read more
Sudhir Singh, CEO, Coforge, says “the retail vertical of the merged entity is going to be operating almost immediately at about $100 million per annum. The healthcare and the high-tech verticals of the merged entity from day one will be operating at about 50 million US dollars, in some cases more than that as well.” … Read more
Hoping to see a turnaround of fortunes in FY25, foreign institutional investors (FIIs) raised stakes in TCS, Infosys, HCL Tech, Wipro, Coforge and Persistent Systems in the March quarter. But as the macro environment remains uncertain with further challenges in the short run, dollar money is now having second thoughts. In the first fortnight of … Read more
