Coforge stock gains after Nomura India Investment Fund buys 3.5 lakh shares

Stocks

On the other hand, promoter Hulst B V offloaded a 5.52 percent stake in Coforge on August 4

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Coforge share price added close to 2 percent intraday on August 5, a day after Nomura India Investment Fund Mother Fund acquired a stake in the IT solutions company.

Nomura India Investment Fund Mother Fund acquired 3.5 lakh equity shares or 0.57 percent stake in the company at Rs 4,710 per share, according to bulk deal data on NSE.

The stock was trading at Rs 4,802.30, up Rs 78.40, or 1.66 percent. It has touched an intraday high of Rs 4,842.00 and an intraday low of Rs 4,740.15.

On the other hand, promoter Hulst B V offloaded a 5.52 percent stake in Coforge on August 4. Hulst BV sold 33.5 lakh equity shares in Coforge (representing 5.52 percent of the total paid-up equity) at Rs 4,738.67 per share on the NSE, the bulk deals data showed on August 4.

Hulst held a 55.73 percent stake in the company as of June 2021.

The IT firm reported a 54.7 percent jump in consolidated net profit at Rs 123.6 crore in the three months to June. It had posted a net profit of Rs 79.9 crore in the year-ago period, Coforge said in a regulatory filing.

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Its consolidated revenue rose 38.3 percent to Rs 1,461.6 crore in the first quarter of FY’22, as against Rs 1,057 crore in the year-ago period.

The company’s board has declared the first interim dividend of Rs 13 per equity share for the financial year FY2021-22. It has fixed August 10, as the record date for ascertaining the eligibility of shareholders for the payment of the interim dividend.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.