Coforge Set For Further Gains As Technicals Strengthen: SEBI RA Karanraj Sonkusale
The analyst sees near-term targets of ₹8,800–₹9,000.
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Coforge Ltd has room for further gains, backed by the information technology firm’s solid technical framework and strong trading volumes, according to SEBI-registered analyst Karanraj Sonkusale.
According to Sonkusale's analysis, the stock shows strong growth prospects with an expected price target of ₹8,800 to ₹9,000 shortly.
The positive outlook for Coforge became apparent after its fourth-quarter results showed consolidated revenue grew by 47.1% from a year earlier.
At the time of writing, Coforge shares were trading at ₹8,295.00, down ₹131.00 or 1.55%.
The company saw financial gains due to a 32% rise in constant currency revenue and a 31.7% growth in EBITDA.
The quarter featured the finalization of five major deals, with one deal reaching a significant total contract value of ₹1.56 billion.
CEO Sudhir Singh characterized FY25 as an exceptional year due to its broad-based expansion across different verticals and markets.
The major Q4 TCV transaction, combined with a robust portfolio of upcoming large deals, establishes Coforge for sustained growth in FY26.
The company's board approved an interim dividend payment of ₹19 per share, which will be recorded on May 12, 2025.
To increase liquidity and accessibility, Coforge declared a stock split with June 4 as the record date.
The company will split its existing ₹10 equity shares into two ₹5 shares.
Coforge now employs 33,497 individuals, showing its business operations are growing.
On Stocktwits, retail sentiment was ‘bearish’ amid ‘normal’ message volume.
The stock has declined nearly 14% so far in 2025.
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