ICICI Direct Assigns Buy Call To Mid Cap Multibagger Stock For Stronger Return

ICICI Direct has assigned buy call to mid-cap IT Software sector stock, Coforge Ltd with a target price of Rs 4798 apiece. Current market price of Coforge Ltd 4083.00 apiece with an intraday fall of 5.71%.

The company has a market capitalisation of Rs 24,935.19 crore. If you buy Coforge Ltd shares now, you can get potential return of 18% soon. Check details below:

1. Coforge Ltd Stock Outlook

Current market price of the IT Stock is Rs 4083.00 apiece on BSE. The stock witnessed a decline of over 5% in trade today. 52-week high of the stock is Rs 4,870.00 apiece and 52-week low is Rs 3210 apiece, respectively. The stock witnessed spurt in volume by 12.69 times today.

2. Coforge Ltd Return and Financial Performance

The stock gave a return of 5% in 1-month, again 5% in last 3-months, 8% in last 6-months, and declined 9% in last 1-year. The stock soared 124% in last 3-years, and 393% in last 5-years.

The company for the quarter ended declared a consolidated total income of Rs 2087.60 crore, up 5.81% from previous quarter total income of Rs 1972.90 crore. The company declared a net profit after tax at Rs 235.90 crore in the latest quarter.

Coforge also declared third interim dividend of Rs. 19/- (Rupees Nineteen only) per Equity Share of the Company the face value of Rs. l 0/- each fully paid-up, for the financial year 2022-23. The record date was February 3, 2023. 

 

3. About Coforge Ltd

Coforge is a global digital services and solutions provider, that enables its clients to transform at the intersect of domain expertise and emerging technologies to achieve real-world business impact.

Coforge leads with its product engineering approach and leverages Cloud, Data, Integration and Automation technologies to transform client businesses into intelligent, high growth enterprises.

Disclaimer

The stock has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.