India's Coforge drops on fresh board exit

Coforge

15/09/2026 06:05

** Shares of Coforge COFO.NS fall as much as 3.38% to 1,784 rupees
** Chair of its nomination and remuneration committee, DK Singh, resigned on Friday citing "differences and tension", days after Chairman Om Prakash Bhatt stepped down following an internal audit review
** COFO has begun searching for two new independent directors and a permanent chair, management said in a meeting on Monday
** No further board changes are expected and co maintained its FY2027 outlook - management
** Jefferies says explanation indicates issue reflects conduct of departing directors rather than broader governance problem at Coforge 
** Thirty-four analysts have "buy" rating on avg; median PT is 1,950 rupees - data compiled by LSEG
** YTD, COFO up about 10%

(Reporting by Urvi Dugar in Bengaluru)
((UrviManoj.Dugar@thomsonreuters.com;))