Coforge Limited up by 17.46 percent | Espresso

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Espresso shot of the day – Coforge Ltd up by 17.46 percent

May 06, 2021
Espresso shot of the day – Coforge Ltd up by 17.46 percent

COFORGE LTD 3397.40 (+17.46%) BSE – INE591G01017 | 6TH MAY 2021

Coforge is a leading global IT solutions organisation, enabling its clients to transform at the intersect of unparalleled domain expertise and emerging technologies to achieve real-world business impact. A focus on very select industries, a detailed understanding of the underlying processes of those industries and partnerships with leading platforms provides them a distinct vantage. They leverage AI, Cloud and Insight driven technologies, allied with their industry expertise, to transform client businesses into intelligent, high growth enterprises. Today their proprietary platforms power critical business processes across the Insurance, Financial Services and Travel industries. Their 11,000 technology and process consultants engineer, design, consult, operate and modernise systems across the world.

Recent Drivers

  • On 6th May 2021, Coforge reported consolidated revenue growing by 7.1% in dollar terms to $172.1 million during Q4FY’21. In constant currency terms, revenue grew 5.1% over the preceding quarter.
  • On 6th May 2021, Coforge reported that their Profit After Tax (PAT) for the quarter increased 17 % YoY to Rs 133 crores.
  • On 6th May 2021, The Board has recommended an interim dividend of Rs 13 per share, and the record date for this payout will be 19th May 2021.
  • On 27th April 2021, Coforge said it has raised Rs 340 crores through issuance of non-convertible bonds on private placement basis.
  • On 12th April 2021, announced that it has signed definitive agreements to acquire a controlling interest in SLK Global Solutions Private Limited (“SLK Global”) for approximately Rs 3 crores.


(Sources: Moneycontrol, Livemint, Coforgetech.com )

Technical Force*

  • S&P BSE 500 month till date gain up by 1.09%
  • Traded on new 52 week High value 3448.00
  • Spurt in Volume by more than 17.29 times compare to previous vol. 3 months avg volume of NSE – 5,60,597
  • Quantity traded – 1,99,125 Deliverable quantity – 16,996 (8.54%)
  • Stock price has jumped more than 170% from one year low level –  1228.15 , 6 May 2020
  • Daily RSI (14) is near overbought territory today
  • 52 week high – 3448.00 | 52 week low­­ – 1228.15

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

5507.05

4160.05

3433.05

2086.05

1359.05

12.05

-

-

Fibonacci Pivot

4160.05

3367.78

2878.32

2563.07

2086.05

1609.03

1293.78

804.32

12.05


Today’s Close

3397.40

SMA

BSE

10 DAY

2911.97

20 DAY

2984.70

50 DAY

2839.56

200 DAY

2446.15

Some Key Ratios (Source: BSE)

Market Cap: 20,585.64crores

PE: 64.45

OPM%: 13.65

ROE%: 18.85

Promoters holding : 63.99

Prev. Close: 2892.45

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.