NSE: COFORGE | BSE: 532541

Mid-range Performer

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1720.50 -4.20 (-0.24%)

High vol. this week

NSE 29 Jul, 2025 3:31 PM (IST)

57,554.9

Market Cap

High in industry

1.1

Beta 1Year

High Volatility

Dividend

Coforge Ltd. has an upcoming dividend of ₹4.00 per share due on 31 Jul 2025 See details

Coforge Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for COFORGE, BSE:532541 Coforge Ltd.

Coforge Ltd.

19 Jul 2018

1720.50

-0.24%

NIIT Tech

Accumulate: Coforge Ltd.

Kotak Securities

NIIT Tech, in the past few consecutive quarters, has delivered a steady beat on revenue expectations. Company has been consistently winning large deals (> TCV USD 20mn) against Tier I vendors which is aiding the strong revenue visibility....

Coforge Ltd. is trading below its 30 day SMA of 1861.0

Coforge Ltd.

19 Jul 2018

1720.50

-0.24%

NIIT Tech

Accumulate: Coforge Ltd.

Kotak Securities

Coforge Ltd. is trading above its 200 day SMA of 1666.9

Coforge Ltd.

18 Jul 2018

1720.50

-0.24%

Strong performance despite seasonal weakness and client issues

Neutral: Coforge Ltd.

Motilal Oswal

18 July 2018 NITECs revenue grew 3.3% QoQ CC in 1QFY19, exceeding our estimate of 1.1% growth, as GIS seasonality and ramp-down in Morris were more than offset by strength in other verticals. PAT fell 0.3% QoQ a 10% beat led by better- than-expected revenue growth and higher other income. Decline in GIS and Morris was reflected in de-growth of 5% in Others. NITEC expects both growth and traction, (ii) sustained deal flow (won USD151m TCV in 1QFY19 v/s USD110m a year ago), (iii) strengthening of leadership across verticals from Tier-I peers, (iv) traction in newer capabilities like cloud and data automation, (v) higher growth in Digital (53% YoY growth; now 27% of total revenue) and (vi) the worst in Morris now behind. We upgrade our revenue estimate by ~5% for FY19/20E given the beat and expected acceleration. We now expect USD revenue/INR earnings CAGR of 13/24% over FY18-20.

Axis Direct released a Buy report for Coforge Ltd. with a price target of 1870.0 on 24 Jul, 2025.

Coforge Ltd.

18 Jul 2018

1720.50

-0.24%

NIIT Tech

Buy: Coforge Ltd.

Recommendation Target

Dolat Capital

NITEC reported USD revenue growth (excl. hedge gain) of 2.8% QoQ (CC growth of 3.3%). EBIT margin declined by 205bps QoQ to 12.1% due to negative impact of wage hike. The management is confident about the revenue growth above industry averages led by large deal wins and strong order book; margins are estimated to be better too led by FX tailwind and better rev. growth. We upgrade our earnings led by better revenue & margin visibility helped by INR depreciation. NITEC is trading at fair valuation of 15.1x/12.9x on FY20/FY21 earnings; we upgrade the stock to...

Coforge Ltd. average weekly volume is high.

Coforge Ltd.

18 Jul 2018

1720.50

-0.24%

NIIT Tech

Buy: Coforge Ltd.

Target

JM Financial

NIIT Tech (NITEC) stayed on the growth curve with a 2.8% (JMFe) QoQ USD revenue growth in 1QFY19; adjusted for incremental impact from the on-going ramp-down in Morris, a Top10 client, and seasonal decline in the GIS business, we estimate a 7%+ QoQ growth in the core business, strongest in the last 5-years. The growth construct was solid quarterly order booking was the highest ever (c.18% YoY on a TTM basis) and headcount addition was strong (7%+ over the last 2 quarters). The incremental growth profile is also margin accretive; EBITDA margin (ex-hedge gains) was a tad above estimates and up 264bps YoY. We believe the turnaround at NITEC is firmly on track and with the Morris-induced drag...

Coforge Ltd. average weekly volume is high.

Coforge Ltd.

10 May 2018

1720.50

-0.24%

NIIT Technologies

Hold: Coforge Ltd.

Target

ICICI Securities Limited

At 18.0%, EBITDA margins expanded 90 bps QoQ, above our 60 bps expansion and 17.7% estimate mainly on account of increased digital and product business as well as operational efficiencies Reported profit grew 13.7% sequentially to | 86.1 crore, ahead of our estimates of | 83.1 crore on account of a better-than-expected operating performance. However, it was partly offset by a higher effective tax rate (22.8% vs. 16.5% in Q3FY18) Organisation changes driving acceleration in growth...

Coforge Ltd. is trading above its 200 day SMA of 1666.9

Coforge Ltd.

10 May 2018

1720.50

-0.24%

Change for growth': NIIT Technologies (NITEC) management indicated that it has incorpora...

Sell: Coforge Ltd.

Recommendation Target

Emkay

Change for growth': NIIT Technologies (NITEC) management indicated that it has incorporated a number of changes in the form of: (1) Restructuring of its sales team (Domain-centric now vs. Geo-centric earlier), (2) Aggressive hiring of Tier-1 talent in leadership roles, (3) Making its compensation and incentives structure more rewarding and (4) Efforts to improve operational efficiencies....

Coforge Ltd. is trading above its 200 day SMA of 1666.9

Coforge Ltd.

09 May 2018

1720.50

-0.24%

NIIT Technologies: Changing aggressively to feed the growth hunger

Neutral: Coforge Ltd.

Target

Motilal Oswal

Under the leadership of Mr Sudhir Singh, NITEC has ushered in four key changes to aggressively drive the growth agenda: (1) restructuring to a vertical-led organization from geo-led organization, (2) adding senior leadership from tier-1 organizations at a fast clip and in healthy numbers, (3) significant restructuring of the rewards &incentive structure and (4) process changes to drive margins and productivity. The early fruits of this endeavor are reflected in the improvement across multiple metrics, such as (1) improved order intake, (2) uptick in the number of large deal wins, (3) 27% YoY growth in Digital and (4) reduction of client concentration. In order to sustain the results, NITEC has adopted a three-pronged approach: (1)innovate in three chosen verticals' sub-segments, (2) industrialize through full-spectrum intelligent automation and (3) incubate Digital at scale to drive superior end-user experience.

Coforge Ltd. average weekly volume is high.

Coforge Ltd.

04 May 2018

1720.50

-0.24%

NIIT Technologies: Strong exit and equally robust outlook

Neutral: Coforge Ltd.

Target

Motilal Oswal

4Q CC revenue growth was 4.3% v/s our estimate of 2.5%. EBITDA margin at 18% (+90bp QoQ) was in line.4QFY18 revenue grew 17.3% YoY (est. of +14.1%) to USD122m, EBITDA rose 12.5% YoY to INR1,418m and PAT increased 16.5% YoY (est. of +10%) to INR861m. For FY18, NITEC's INR revenue grew 7.8% YoY, while CC revenue rose 9.7%. EBITDA grew by 9.4% YoY to INR5.0b and PAT by 25% YoY to INR2.8b. Adjusted for one-time exceptional loss in FY17, PAT growth was 11% YoY.