India's Coforge gains on upbeat outlook

Mphasis

24/07/2024 08:34

** Shares of Coforge  COFO.NS  rise as much as 3.9% to
6,421.4 rupees, highest since March 5
    ** Stock top gainer on Nifty IT index  .NIFTYIT , which is
up 0.02%
    ** Co shows "definite signs" of improvement in outlook led
by travel, tourism and hospitality segment, said analysts at
Centrum Institutional Equities
    ** Expect rev and EBITDA to grow at 17% and 22.2%,
respectively over FY24-FY26- Centrum
    ** Deal ramp-ups supported growth in Q1, will continue to do
so in 2Q, said analysts at Jefferies
    ** Analysts covering COFO on avg have a "buy" rating on
stock vs "hold" rating on peers LTIMindtree  LTIM.NS , Tech
Mahindra  TEML.NS  and Mphasis  MBFL.NS - LSEG data
    ** COFO up 16% so far in July, eyes best monthly gain since
Aug.


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))