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Coforge

Coforge buys 17% stake in Cigniti Technologies for Rs 645 cr via block deal

IT company Coforge on Friday bought a 17 per cent stake in Cigniti Technologies for Rs 645 crore through open market transactions. According to the block deal data available with the BSE, Coforge purchased a total of 46,18,199 shares or 16.9 per cent stake in Cigniti Technologies. The shares were acquired at an average price of Rs 1,398.5 apiece, taking the transaction value to Rs 645.85 crore. Meanwhile, Kukunuru Madhava Lakshmi and Kukunuru Kumar Bapuji, public shareholders of Cigniti Technologies have exited the firm by selling their entire 6.83 per cent stake in the firm. In addition, Sapna P and Venkata Subramanyam Chakkilam, one of the promoters of Ciginiti, also offloaded shares in the company. A total of 46.18 lakh shares of Cigniti were sold by Kukunuru Madhava Lakshmi, Kukunuru Kumar Bapuji, Sapna and Chakkilam at the same price. Shares of Cigniti Technologies fell 1.28 per cent to close at Rs 1,367.20 per piece on the NSE. On Thursday, digital services and solutions .

Coforge buys 17% stake in Cigniti Technologies for Rs 645 cr via block deal
Updated On : 05 Jul 2024 | 11:33 PM IST

Nomura has high hopes from Infosys, Coforge ahead of Q1FY25 results

Given the bottoming out of revenue growth rate, analysts expect the earnings per share (EPS) downgrade cycle to come to an end for the sector

Nomura has high hopes from Infosys, Coforge ahead of Q1FY25 results
Updated On : 02 Jul 2024 | 11:20 AM IST

Capital Group buys over 322,000 shares of IT firm Coforge for Rs 163 cr

Financial services company Capital Group on Thursday bought shares of IT company Coforge for Rs 163 crore through an open market transaction. US-based Capital Group through its affiliate New World Fund Inc acquired shares of Coforge through a bulk deal on the NSE. As per the data on the National Stock Exchange (NSE), New World Fund Inc purchased 3,22,554 shares or 0.5 per cent stake in Coforge. The shares were picked up at an average price of Rs 5,073.66 apiece, taking the deal size to Rs 163.65 crore. After the stake purchase, Capital Group's shareholding in Coforge increased to 5.52 per cent from 5.02 per cent in the company. Capital Group through its two affiliates SmallCap World Fund Inc and New World Fund Inc hold a stake in the company. Details of the sellers could not be ascertained. On Thursday, shares of Coforge rose 3.55 per cent to close at Rs 5,084.45 apiece on the NSE.

Capital Group buys over 322,000  shares of IT firm Coforge for Rs 163 cr
Updated On : 23 May 2024 | 11:41 PM IST

Coforge, Microsoft to launch innovation hub for creating GenAI solutions

IT company Coforge on Tuesday said it has collaborated with Microsoft to establish an innovation hub to develop industry-specific generative AI solutions. The hub will develop new industry specific generative AI solutions and will work closely with Microsoft to integrate them with Microsoft's generative AI products and technologies, including Microsoft Azure OpenAI Service, Microsoft Power Platform, and Microsoft Copilot, Coforge said in a statement. Coforge is taking advantage of its deep industry strengths and customer partnerships in building industry specific generative AI solutions on the Microsoft platform to drive transformation and enhance productivity. "This collaboration with Microsoft will further accelerate our efforts to deliver industry-leading generative AI solutions to our customers," Coforge CEO and executive director Sudhir Singh said. Coforge also introduced two new copilots for insurance and financial services. These copilots will use Microsoft's generative AI

Coforge, Microsoft to launch innovation hub for creating GenAI solutions
Updated On : 21 May 2024 | 3:46 PM IST

Berger Paints, Persistent: 5 oversold stocks that can bounce back up to 10%

HDFC Life, CoForge and Syngene are the other 3 stocks trading in oversold zone; Technically a RSI reading below 30 on the charts is considered oversold; here are the key levels.

Berger Paints, Persistent: 5 oversold stocks that can bounce back up to 10%
Updated On : 13 May 2024 | 8:56 AM IST

Cigniti Technologies acquisition will be game changer: Coforge CEO

The company has set a target of training 40 per cent of its workforce in GenAI skills in FY25

Cigniti Technologies acquisition will be game changer: Coforge CEO
Updated On : 03 May 2024 | 11:06 PM IST

Stock Market Highlights, May 3: Sensex plunges 733 pts, Nifty below 22,500 in broad sell-off

Stock Market highlights on May 3:24 of the 30 Sensex stocks, and 35 of the 50 Nifty stocks closed in the negative zone led by L&T, Maruti Suzuki, Reliance Industries, Nestle India, and JSW Steel

Stock Market Highlights, May 3: Sensex plunges 733 pts, Nifty below 22,500 in broad sell-off
Updated On : 03 May 2024 | 3:45 PM IST

Coforge slips 10% post Q4 results, acquisition of Cigniti Technologies

The stock of Coforge is trading at its lowest level since June 2023. With today's decline, it corrected 34 per cent from its 52-week high of Rs 6,840 touched on February 19, 2024

Coforge slips 10% post Q4 results, acquisition of Cigniti Technologies
Updated On : 03 May 2024 | 11:11 AM IST

Trading action on May 03: New highs, block deal, open offer, Q4 nos & more

All you need to know before Sensex, Nifty opens for trade on Friday, May 03: Positive global cues, Gift Nifty hint at gap-up open; Bajaj Finance, CoForge, Yes Bank in focus.

Trading action on May 03: New highs, block deal, open offer, Q4 nos & more
Updated On : 03 May 2024 | 7:23 AM IST

Coforge Q4 results: Profit rises 94.8%, acquires Cigniti Technologies

The dollar revenue for the fourth quarter grew 1.9 per cent sequentially in constant currency to $286.8 million, led by deal wins worth $400 million

Coforge Q4 results: Profit rises 94.8%, acquires Cigniti Technologies
Updated On : 02 May 2024 | 7:59 PM IST

Coforge Q4 results: Net profit up 95% at Rs 223.7 cr, revenue rises 8.7%

Coforge Q4FY24 results: The board of the company recommended an interim dividend of Rs 19 per share

Coforge Q4 results: Net profit up 95% at Rs 223.7 cr, revenue rises 8.7%
Updated On : 02 May 2024 | 6:30 PM IST

Breakout stocks: CoForge, TechM, Sonata can rally up to 14%, suggest charts

The Nifty IT index as underperformed the benchmark Nifty 50 so far this year. Will the upcoming Q4 results revive sentiment at these counters? Charts suggest that these 4 IT stocks look promising.

Breakout stocks: CoForge, TechM, Sonata can rally up to 14%, suggest charts
Updated On : 05 Apr 2024 | 12:25 PM IST

Coforge slips 5% as board approves Rs 3,200 crore fund raise

In the past one month, the global digital services and solutions provider's stock has underperformed in the market falling by 14 per cent. In comparison, the S&P BSE Sensex was down by 0.04 per cent

Coforge slips 5% as board approves Rs 3,200 crore fund raise
Updated On : 18 Mar 2024 | 11:13 AM IST

Here's why shares of Coforge will be in focus on Monday, March 4

In an exchange filing dated March 2, the company said that the Board of Directors of the company has decided to not proceed with the proposed offering of American Depository Receipts

Here's why shares of Coforge will be in focus on Monday, March 4
Updated On : 04 Mar 2024 | 7:57 AM IST

RIL, Asian Paints, Axis Bank: Key levels to watch out for post Q3 results

As stocks turn volatile post Q3 results, watch out for these key levels on the likes of ICICI Bank, Hindustan Unilever, CoForge and UltraTech Cement among others and plan your trading strategy.

RIL, Asian Paints, Axis Bank: Key levels to watch out for post Q3 results
Updated On : 24 Jan 2024 | 12:27 PM IST

40% of our FY25 investments to be in AI: Coforge CEO Sudhir Singh

The Noida headquartered company plans to invest in setting up new cloud infrastructure and AI studio at its campus

40% of our FY25 investments to be in AI: Coforge CEO Sudhir Singh
Updated On : 23 Jan 2024 | 10:41 PM IST

Coforge Q3 profit rises 4.3% on deal wins, maintains revenue forecast

Consolidated net profit rose to 2.38 billion rupees ($28.6 million) for the quarter ended Dec. 31 from 2.28 billion rupees a year earlier

Coforge Q3 profit rises 4.3% on deal wins, maintains revenue forecast
Updated On : 22 Jan 2024 | 10:43 PM IST

HCL Technologies to outshine IT peers in Q3 results: Elara Securities

Q3 IT preview: Elara Securities said that added that other large firms may witness a revenue dip of 1-1.3 per cent QoQ CC given weak seasonality

HCL Technologies to outshine IT peers in Q3 results: Elara Securities
Updated On : 03 Jan 2024 | 12:47 PM IST

Coforge, Microsoft Azure join hands for new generative AI solution

The development comes after Coforge's recent launch of Coforge Quasar, a Gen AI Platform designed to build Enterprise AI capabilities

Coforge, Microsoft Azure join hands for new generative AI solution
Updated On : 21 Dec 2023 | 2:51 PM IST

Coforge Q2 results: Net profit declines 10% to Rs 181 cr, revenue up 16%

IT company Coforge on Thursday posted a 10 per cent year-on-year decline in consolidated net profit for the September quarter at Rs 181 crore, partly on account of a one-time increase in ESOP costs. The IT solutions company reaffirmed its 2023-24 revenue growth guidance of 13-16 per cent. Consolidated Profit After Tax (PAT) for the second quarter of the current fiscal was at Rs 181 crore, 10 per cent lower than the year-ago period. However, the PAT for the quarter was 9.5 per cent higher when compared sequentially. The net profit (attributable to owners) was Rs 201.1 crore in the year-ago period. Revenue from operations came in at Rs 2,276.2 crore in the quarter under review, rising over 16 per cent from Rs 1,959.4 crore in the corresponding period of the previous fiscal. The company attributed the 10 per cent year-on-year drop in net profit to a one-time increase in ESOP (employee stock option plan) costs in the quarter. Coforge, in a statement, said it gave all increments on ti

Coforge Q2 results: Net profit declines 10% to Rs 181 cr, revenue up 16%
Updated On : 19 Oct 2023 | 4:26 PM IST