Multiple growth levers at play, brightening the prospects for Coforge
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PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
Highlights Strong revenue performance Margin expands; confident of recovery Healthy deal win and pipeline lend credibility to guidance Supply-crunch easing, attrition drops The macro unlikely to impact earnings meaningfully Strong earnings trajectory, add on weakness Coforge (CMP: Rs 4080, Market Cap: Rs 24,883 crore) has been our high conviction pick from the Information Technology pack and the strong financial performance justifies its outperformance within the IT universe. Against a 6 percent rally in the IT Index in the past four months, the stock has rallied over…
