Coforge

According to bulk details data available with the National Stock Exchange, Baring PE sold a total of 6 million shares at a price of Rs 4,050 apiece

According to reports, Barings Private Equity was looking to sell part of its 40 per cent stake in Coforge via block deals

The private equity firm has hired IIFL to seek investor interest in the deal and has offered up to 7% discount to the Friday closing market price of Rs 4,348 a share

Since January 6, the IT index rallied 9 per cent, as compared to 1.6 per cent rise in the Nifty50

The company said that it de-risked its operating profile with declining client concentration, while attrition fell 15.8% from 16.3% Y/Y

Closing Bell: Within sectors, the Nifty metal index closed with most strength, up 1.5 per cent, followed by financials and pharma pockets, while PSB index slumped the most by over 1 per cent

The IT solutions provider has posted a consolidated net profit of Rs 220.6 crore for Q2FY23, up 36.6% YoY. Its revenue growth was driven by offshoring expansion

The board has recommended an interim dividend of Rs 13 per share, with the record date for payout on 4 November 2022.

Despite the ongoing selloff and the global macroeconomic stress, analysts say that the IT sector still remains a preferred bet from a long-term perspective

However, they have not specified the quantum of the buyback the company could announce. Infosys is scheduled to announce its Q2-FY23 numbers on October 12

Stocks to Watch today: Hero MotoCorp said it will invest USD 60 million (about Rs 490 crore) in US-based Zero Motorcycles to jointly develop electric motorcycles

It has entered a partnership with industry leaders like Virbela, Hedera and R3 for their Metaverse and Web3 offerings and has more partnerships in the pipeline

Earlier in May, analysts at JP Morgan had downgraded the Indian IT sector citing growth concerns. Rising margin headwind in the near-term, JP Morgan had said then, was one of the key concerns.

The Nifty IT index tanked over 3 per cent in early trade on Monday when compared with a 0.5 per cent fall on the Nifty50 index

The technology-heavy Nasdaq Composite surged 3.3 per cent on Friday, as investors reassessed the expected path of Federal Reserve interest-rate hikes.

According to the technical analyst from Anand Rathi, UPL has formed a Bullish Bat pattern and can rally up to Rs 775.

Select mid-cap IT stocks may surge up to 10 per cent on short-term rebound

Revenue from operations during the quarter increased to Rs 1,742.9 crore from Rs 1,281.5 crore in the corresponding quarter of 2020-21

Stocks to Watch Today: Aditya Birla Capital, Apollo Tyres, GSPL, HCC, L&T, RBL Bank, Siemens and Tata Motors ahead of Q4 earnings; Prudent Corporate Advisory Services IPO to close on Thursday.

According to bulk deal data available with BSE, Hulst BV sold a total of 60 lakh shares, aggregating to 9.85 per cent stake in the company