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Coforge share rises 3% after promoter sells 31 lakh shares

Coforge share gained 2.98% to Rs 3,351 against previous close of Rs 3,254.3. The share opened at Rs 3,275 on BSE

Coforge share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages. The stock has gained 135% in one year and risen 23.1% since the beginning of this year. Coforge share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages. The stock has gained 135% in one year and risen 23.1% since the beginning of this year.

Share of Coforge rose 3% today after its promoter of the technology firm Hulst BV sold 3.1 million shares or 5.1 per cent stake through a bulk deal on the BSE. Prior to the transaction, the promoter held 63.99 per cent stake in the information technology stock.

Coforge share gained 2.98% to Rs 3,351 against previous close of Rs 3,254.30. The share opened at Rs 3,275 on BSE. Total 0.26 lakh shares of the tech firm changed hands amounting to turnover of Rs 8.71 crore on BSE. The share opened at Rs 3,275 on BSE. Market cap of the firm rose to Rs 20,207 crore on BSE. The share hit 52-week high of Rs 3,544.60 and 52 week low of Rs  1,305 on June 12, 2020.

It trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages. The stock has gained 135% in one year and risen 23.1% since the beginning of this year.

On Wednesday, share of the software company fell 5.2 per cent to Rs 3,254.3 on BSE.

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The firm, which was earlier known as NIIT Technologies reported a 17 per cent rise in consolidated Q4 net profit at Rs 133 crore 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 crore in Q4 against Rs 1,109.3 crore in the year-ago period.

The principal business activity of the company is computer program consultancy and related services. The company is engaged in application development and maintenance, managed services, cloud computing and business process outsourcing.

Meanwhile, Sensex was trading 33 points lower at 49,867 and Nifty fell 35 points to 14,994.