Shares of mid-cap information technology services player Coforge slipped in trade on Thursday, June 26, after a block deal involving shares worth Rs 183 crore took place.
Around 9.77 lakh shares, or 1.46 percent of the company's equity, was exchanged at Rs 1,876.50 per share, totaling Rs 183.3 crore. This came at a very minor discount to the previous session's closing price of Rs 1,880 on the NSE.
Moneycontrol could not immediately ascertain the buyers and the sellers in the deal. At 10.10 a.m., shares of Coforge were quoting Rs 1,872, lower by 0.4 percent on the NSE.
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Coforge posted a consolidated profit after tax of Rs 261 crore for the fourth quarter of FY25, marking a 17 percent rise compared to Rs 223.7 crore in the same period last year.
Revenue from operations also saw strong growth, climbing 47 percent year-on-year to Rs 3,409.9 crore, up from Rs 2,318.4 crore in the corresponding quarter of the previous fiscal.
The company reported an order intake of $2.1 billion in Q4 with five large deals, resulting in a robust 12-month executable order book of $1.5 billion. The firm's executable order book remains a reliable indicator of short-term revenue growth outlook; it is up 47 percent YoY in FY25.
Motilal Oswal recently noted that Coforge has reiterated its target of reaching $2 billion revenue by FY27, driven by strong organic momentum and cross-selling opportunities from Cigniti. With an executable order book of $1.5 billion (+47percent YoY), near-term revenue visibility remains high, and management expects organic growth in FY26 to outpace FY25 levels.
The company’s BFSI and transportation verticals remain core growth engines, each delivering +20 percent YoY growth in FY25 despite a challenging macro environment.
"We continue to view Coforge as a structurally strong mid-tier player well-placed to benefit from vendor consolidation/cost-takeout deals and digital transformation. Cigniti could also prove to be an effective longterm asset," said Motilal Oswal.
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