IT firm Coforge Ltd's (formerly NIIT Technologies) Shares of the are declining for the fourth consecutive day on Monday.
Earlier last week, it had has reported a marginal rise in consolidated net profit to ₹120.7 crore for the second quarter ended September 30. The company had posted a net profit of ₹119.5 crore in the July-September quarter last year.
The company's consolidated gross revenue rose 11.1 per cent to ₹1,153.7 crore in the quarter under review from ₹1,038.5 crore in the year-ago period, it added.
On a sequential basis, the net profit was higher by 51.1 per cent from ₹79.9 crore in the June 2020 quarter, while gross revenue was up by 9.1 per cent over ₹1,057 crore.
The stock has underperformed the pharma sector by 5.37 per cent. Extending its losing streak for the fourth consecutive day, it has fallen 12.32 per cent during this period.
The shares have touched an intraday low of ₹2,235 (-6.64 per cent) and have mildly recovered to trade at ₹2,255 (-5.30 per cent).
The institutions are holding 20.74 per cent of the total equity.