Coforge shares in news today on amalgamation with Cigniti Technologies
The IT stock ended flat at Rs 9449.85. Market cap of the firm fell to Rs 63,181 crore on Friday.
- Dec 30, 2024,
- Updated Dec 30, 2024 9:03 AM IST
Shares of Coforge Ltd are in news today after the mid tier IT firm said it board had approved the amalgamation with Cigniti Technologies. Coforge will absorb the smaller Cigniti Technologies subject to approvals from national company law tribunal.
On Friday, the IT stock ended flat at Rs 9449.85. Market cap of the firm fell to Rs 63,181 crore.
A total of 7006 shares of the firm changed hands amounting to a turnover of Rs 6.62 crore. Shares of Coforge fell to a 52 week low of Rs 4291.05 on May 9, 2024.
The IT stock is overbought on charts with a RSI of 71.6. This signals there were more buyers than sellers for the stock in that session.
Coforge shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages, which indicates the momentum is bullish both in long and short term.
"Pursuant to the proposed Scheme, equity shares of the Company shall be issued to the shareholders of the Transferor Company which would be listed on BSE Limited and National Stock Exchange of India Limited (collectively referred to as “Stock Exchanges”).
“1 (One) equity share of the Transferee Company of INR 10/- (Rupees Ten) each fully paid up for every 5 (Five) equity shares of the Transferor Company of INR 10/- (Rupees ten) each fully paid up.”
Coforge Limited is an India-based information technology (IT) solution company. It is engaged in the in-application development and maintenance, managed services, cloud computing and business process outsourcing. The Company provides computer programming consultancy and related activities.
Shares of Coforge Ltd are in news today after the mid tier IT firm said it board had approved the amalgamation with Cigniti Technologies. Coforge will absorb the smaller Cigniti Technologies subject to approvals from national company law tribunal.
On Friday, the IT stock ended flat at Rs 9449.85. Market cap of the firm fell to Rs 63,181 crore.
A total of 7006 shares of the firm changed hands amounting to a turnover of Rs 6.62 crore. Shares of Coforge fell to a 52 week low of Rs 4291.05 on May 9, 2024.
The IT stock is overbought on charts with a RSI of 71.6. This signals there were more buyers than sellers for the stock in that session.
Coforge shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages, which indicates the momentum is bullish both in long and short term.
"Pursuant to the proposed Scheme, equity shares of the Company shall be issued to the shareholders of the Transferor Company which would be listed on BSE Limited and National Stock Exchange of India Limited (collectively referred to as “Stock Exchanges”).
“1 (One) equity share of the Transferee Company of INR 10/- (Rupees Ten) each fully paid up for every 5 (Five) equity shares of the Transferor Company of INR 10/- (Rupees ten) each fully paid up.”
Coforge Limited is an India-based information technology (IT) solution company. It is engaged in the in-application development and maintenance, managed services, cloud computing and business process outsourcing. The Company provides computer programming consultancy and related activities.