Coforge share rose over 2% today after Nomura India Investment Fund Mother Fund acquired a stake in the IT solutions company.
Coforge stock touched an intraday high of Rs 4,842, rising 2.5%┬а against previous close of Rs 4,723.90 on BSE.
The stock has gained after 2 days of consecutive fall.
Coforge stock trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.
The IT stock has gained 149% in one year and risen 76.67% since the beginning of this year.
Market cap of the firm rose to Rs 29,028 crore
Total 0.36 lakh shares changed hands amounting to turnover of Rs 17.11 crore on BSE.
Nomura India Investment Fund Mother Fund bought 3.5 lakh equity shares or 0.57 per cent stake at Rs 4,710 per share, according to bulk deal data on NSE.
On the other hand, promoter Hulst B V sold a 5.52 percent stake in Coforge on August 4. Hulst BV sold 33.5 lakh equity shares in Coforge at Rs 4,738.67 per share on the NSE, the bulk deals data showed on August 4.
Hulst held a 55.73 percent stake in the company as of June 2021.
The IT company, formerly known as NIIT Technologies, reported a 54.7 per cent rise in net profit to Rs 123.6 crore in Q1 against a net profit of Rs 79.9 crore in the corresponding period a year ago.
Income climbed 38.3 per cent to Rs 1,461.6 crore in Q1 from Rs 1,057 crore in the same period a year ago.
The company’s board has declared the first interim dividend of Rs 13 per equity share for the financial year FY2021-22. It has fixed August 10, as the record date for ascertaining the eligibility of shareholders for the payment of the interim dividend.
