Buy Coforge, target price Rs 3880: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on with a target price of Rs 3880. The current market price of Coforge Ltd. is Rs 3694.35. Time period given by analyst is Intra Day when Coforge price can reach defined target.
Coforge Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 22383.42 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 1278.00 Crore, up 6.93 % from last quarter Total Income of Rs 1195.20 Crore and up 12.96 % from last year same quarter Total Income of Rs 1131.40 Crore. Company reported net profit after tax of Rs 137.40 Crore in latest quarter.
Investment Rationale
Stock has been consistently moving upwards on daily and weekly frame indicating strength for next move

Promoter/FII Holdings
Promoters held 64 per cent stake in the company as of Dec 30, 2020, while FIIs held 14.4 per cent, DIIs 12.2 per cent and public and others 9.4 per cent.

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