India's Coforge rises after quarterly profit beats estimates

Coforge

27/10/2025 03:59

** Indian IT services firm Coforge COFO.NS gains 4.4% to 1,837 rupees; top gainer on Nifty IT index .NIFTYIT

** Co posted second-quarter profit above analysts' estimates as client spending picked up across sectors

** HSBC raises TP to 2,025 rupees from 1,795 rupees, keeps "hold" rating

** Says improvement in margins and cash flow conversions in Q2 provides reassurance on quality of growth

** Analysts at Nomura say co's strong executable order book gives comfort to revenue outlook; expect 29% y/y rev growth in FY26 vs 15% in FY25

** Retains "buy," raises TP to 1,900 rupees from 1,880 rupees; says COFO top-pick among mid-cap IT firms

** Mean PT for COFO.NS up to 1,893.23 rupees from 1,875.74 rupees before results - data compiled by LSEG

** Stock down ~4% YTD vs ~17% fall in Nifty IT

 (Reporting by Manvi Pant)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))