Neutral on Coforge, target price Rs 2735: Motilal Oswal

Motilal Oswal has neutral call on Coforge with a target price of Rs 2735. The current market price of Coforge Ltd. is Rs 2994.35.

Coforge Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 18068.39 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1195.20 Crore, up 3.25 % from last quarter Total Income of Rs 1157.60 Crore and up 9.83 % from last year same quarter Total Income of Rs 1088.20 Crore. Company reported net profit after tax of Rs 123.50 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 70.3 per cent stake in the company as of Sept 30, 2020, while FIIs held 13.9 per cent, DIIs 6.8 and public and others 9 per cent.