In the last year, the share price of Coforge Limited has increased from ₹ 2808.10 levels to ₹ 4015.00 levels, up 42.98%. The share’s 52-week high is at ₹ 6135.00 and its 52-week low is at ₹2785.00.
If an investor would have invested ₹ 1,00,000 in the share a year ago, then the value of their holdings today would have been ₹ 1,42,980.
Mutual funds have increased their shareholding in the company from 14.44% to 19.26% in the March quarter. Some of the major mutual funds that are invested in the company are Axis Long Term Equity Fund, UTI Flexi Cap Fund, Aditya Birla Sun Life Equity Hybrid 95 Fund, and Nippon India Growth Fund.
DIIs including the above mutual funds hold a 25.67% stake in the company. Its promoters hold a 40.09% stake, FIIs hold a 22.4% stake, the public holders an 11.83% stake and other shareholders hold a 0.01% stake. It is important to note that its promoters have decreased their holdings from 49.97% to 40.09% during the latest quarter, whereas, FIIs have increased their holdings from 19.12% to 22.40%.
Coforge is an IT services company that provides end-to-end software solutions and services. It provides AI-based digital business assistants, machine learning, deep learning, multi-currency, multi-lingual, multi-channel experience, image recognition, NLP, RPA, and workflow automation.
It is one of the top software exporters in India and some of its global customers include British Airways, the ING Group, SEI Investments, Sabre, and SITA. It has set up its subsidiaries in the UK, Germany, US, Singapore, Australia and Thailand.
Targets
On 12th April 2022, ICICI Securities had given a buy call on the shares of Coforge Limited, with a target of ₹ 5209 apiece. The market price at that time was ₹ 4206.85. The analyst gave a time period of one year for the share to be able to reach the target. As compared to the current market Price of ₹ 4015.00, this translates to an upside of 29.74%.
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
