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Coforge share climbs over 5% after promoter sells 19 lakh shares

Stock of Coforge rose up to 5.24% to Rs 3,390 against previous close of Rs 3,221 on BSE

twitter-logoBusinessToday.In | May 11, 2021 | Updated 11:01 IST
Coforge share climbs over 5% after promoter sells 19 lakh shares
Coforge share has gained 133.28% in one year and risen 23.76% since the beginning of this year.

Coforge share rose over 5%  today after the multinational IT firm's sole promoter  Hulst BV sold shares worth a little over Rs 616 crore in the firm, through an open market transaction. As per BSE's bulk deal data, the promoter sold 19 lakh shares at an average price of Rs 3,242. Stock of Coforge rose up to 5.24% to Rs 3,390 against previous close of Rs 3,221 on BSE.

The large cap stock has gained after 2 days of consecutive fall. Coforge share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Coforge share has gained 133.28% in one year and risen 23.76% since the beginning of this year. 

The large cap stock has risen 17.56% in one week. Market cap of the firm rose to Rs 20,198 crore on BSE.  The share touched an intra day low of Rs 3,179. 0.32 lakh shares of the firm changed hands amounting to turnover of Rs 10.43 crore on BSE.

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On May 6, the share hit fresh high of Rs 3448 after the company declared its Q4 earnings against previous close of Rs 2,892.45 on BSE.

Later, the share closed 17.10% or Rs 504  higher at Rs 3,397 on BSE. The firm reported a 17 per cent rise in consolidated net profit at Rs 133 crore in the quarter ended March 2021.against net profit of Rs 113.6 crore in the year-ago period. Consolidated revenue from operations rose 13.7 per cent to Rs 1,261.5 in Q4 against Rs 1,109.3 crore in the year-ago period.

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