Buy Coforge, target price Rs 5570: JM Financial

JM Financial has buy call on Coforge with a target price of Rs 5570. The current market price of Coforge Ltd. is Rs 5528.2.

Coforge Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 36405.04 Crore) operating in IT Software sector.

Coforge Ltd. key Products/Revenue Segments include Sale of services and Software Products for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 2368.40 Crore, up 1.29 % from last quarter Total Income of Rs 2338.30 Crore and up 9.01 % from last year same quarter Total Income of Rs 2172.60 Crore. Company reported net profit after tax of Rs 229.20 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 26.63 per cent stake in the company as of 31-Mar-2024, while FIIs owned 35.0 per cent, DIIs 54.28 per cent.