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IT stocks rally up to 5% as Nvidia lifts AI optimism, Coforge surges 3.4%
Indian IT stocks extended gains, with the Nifty IT index rising 3% and individual stocks like LTM, Coforge, TCS, and TechM climbing up to 5%, driven by Nvidia's upbeat AI outlook and anticipation of Fed chair's speech. Coforge added 3.4% on a deepened partnership with Pega, while Wipro rose after expanding its AI collaboration with Google Cloud. The sector's momentum is tied to AI-driven demand and global tech sentiment.
Coforge shares surge 31% in four weeks to eight-month high
Coforge surges 31% in 4 weeks, hits 8-month high; what's driving IT stock? Coforge Share : Axis Securities expects deal ramp-ups, AI monetisation and Encora synergies to drive sustained earnings growth for Coforge. It maintained a 'Buy' rating with a target price of ₹2,050. Listen to This Article Coforge share price hit an eight-month high of ₹1,887.70, gaining 4 per cent on the BSE in Thursday’s intra-day deal.
Mid-tier IT stocks outperform market crash
But two mid-tier IT stocks have managed to stand apart in the selloff. Coforge is up 7% year-to-date, while LTIMindtree is up 1%. LTIMindtree has also gained 21% in the past one month, making it one of the sharper rebounds in the sector.
Coforge Stresses on AI Adoption
3 Min Read IT services company Coforge believes the next phase of artificial intelligence adoption will be driven by enterprise applications rather than access to large language models, as businesses shift their focus from experimenting with AI to deploying it at scale across their operations. Speaking during the Coforge's June-quarter earnings call, Chief Executive Officer Sudhir Singh said the AI conversation has fundamentally changed over the last year.
Coforge Sees Strong FY27 Growth
Sudhir Singh, CEO and Executive Director of Coforge, says the company is on track for an 'exceptional' 2026-27 (FY27), backed by strong demand for artificial intelligence (AI) led transformation, cloud modernisation and legacy technology upgrades. After an exceptional April-June quarter of 2026 (Q1FY27), he expects robust growth to continue through the rest of the year, with improving margins and the potential to set the industry's growth benchmark for the third consecutive year.
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