Suspense Crime Sach Ka Dam
The shares of the well-known IT company Coforge witnessed a massive surge on Wednesday. On Wednesday, October 23, the company’s shares closed at Rs 7558.45 on BSE with a gain of Rs 762.85 (11.23%). With this massive surge, the price of Coforge’s shares reached very close to its 52-week high. But today, i.e. on Thursday, the company’s shares continued to rise and it made its new 52-week high.
Stormy weather continues on Thursday.
Today, Coforge shares opened with a fall at Rs 7545.40, but after the trading resumed, a strong rise was seen in it again. On the back of heavy buying, the company’s shares not only reached its intraday high with a rise of Rs 141.55 (1.87 percent) at 09.47 am but also made a new 52-week high. Let us tell you that earlier the 52-week high of the company’s shares was Rs 7632.75. Its 52-week low is Rs 4291.05.
The company performed brilliantly in the second quarter.
Let us tell you that Coforge released the results of the second quarter of the financial year 2024-25 on Tuesday. The company told the stock market exchange that the second quarter of the current financial year was very good. During this period, the net profit of the company increased by 67.7 percent every quarter to Rs 234 crore. Whereas in the April-June 2024 quarter, the net profit of the company was Rs 139 crore. Along with this, the revenue of the company in the second quarter of the current financial year also increased by 27.6 percent every quarter to Rs 3062 crore, which was Rs 2401 crore in the previous quarter.
JP Morgan raised the target price of the shares.
In view of the excellent performance of the company, the leading global brokerage firm JP Morgan has maintained the Overweight rating for the shares and increased the target. JP Morgan has given a new target of Rs 9600 for the company’s shares, earlier the brokerage house had given a target of Rs 9300.
