Neutral on Coforge, target price Rs 2690: Motilal Oswal

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Neutral on Coforge, target price Rs 2690:  Motilal Oswal


Motilal Oswal has neutral call on with a target price of Rs 2690. The current market price of Coforge Ltd. is Rs 2383.25.

Coforge Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 14418.60 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 1190.60 Crore, up 3.20 % from last quarter Sales of Rs 1153.70 Crore and up 10.92 % from last year same quarter Sales of Rs 1073.40 Crore Company reported net profit after tax of Rs 123.50 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 64 per cent stake in the company as of Sept 30, 2020, while FIIs held 14.4 per cent, DIIs 12.2 per cent and public and others 9.4 per cent.





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