The shares of an IT company specializing in providing digital services and solutions, particularly in areas like digital transformation, data analytics, cloud services, and business process management, jumped upto 4 percent following a bulk deal involving Motilal Oswal Mutual Fund.
Price action
With a market capitalization of Rs. 45,380.98 crores on Monday, the shares of Coforge Limited jumped upto 3.7 percent, making a high of Rs. 6834.00 per share compared to its previous closing price of Rs. 6587.45 per share.
What Happened
Coforge Limited, in providing digital services and solutions, particularly in areas like digital transformation, data analytics, cloud services, and business process management, recently experienced a bulk deal in which Motilal Oswal Mutual Fund bought 3.5 lakh equity shares, representing 0.52 percent of the company, at Rs. 6,605.13 per share, totaling Rs. 231.31 crores on April 17.
About the Company
Coforge Limited is a global digital services and solutions provider, specializing in areas such as digital transformation, cloud services, data analytics, and business process management. The company helps businesses optimize their operations through innovative technology solutions. Coforge serves clients across various industries, including banking, financial services, insurance, and healthcare, leveraging cutting-edge technologies for improved efficiency and growth.
Revenue Segmentation
Coforge Limited has a well-diversified business portfolio, with increasing revenues from various service offerings. Engineering leads with 41.9 percent, followed by Data and Integration at 22.4 percent. Cloud and Infrastructure Management (CIMS) contributes 19.1 percent, Intelligent Automation accounts for 8.9 percent, and Business Process Management (BPM) adds 7.6 percent, showcasing a balanced and robust revenue stream.
Order Intake & Future Growth
The company secured a $501 million order intake in Q3, marking two consecutive quarters above half a billion. With a strong pipeline of large deals and a 40 percent Y-O-Y order book growth, it remains confident in sustained growth, backed by a strong workforce.
Financials
The company’s revenue rose by 44 percent, from Rs. 2,338.3 crore to Rs. 3,377.8 crore in Q3FY24-25. Meanwhile, the net profit declined from Rs. 238 crore to Rs. 215.5 crore during the same period.
Written by Sridhar J
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