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Coforge Stock Plummets After Q4 Earnings Release and Acquisition Announcement

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Shares of Coforge Ltd witnessed a significant decline of over 10% following the announcement of its financial results for the fourth quarter of 2024. Despite reporting an impressive increase in net profit by 95% to ₹224 crore for the quarter, the market response was not as expected.

Analysts at Jefferies India Pvt Ltd expressed concern over Coforge’s performance, highlighting that the company missed estimates across various metrics, including revenue and margin growth.

Antique Stock Broking and Phillip Capital also revised their target prices for Coforge, reflecting a cautious outlook on the company’s future performance. Coforge’s recent agreement to acquire Cigniti Technologies Limited further added complexity and risk in the eyes of analysts.

While Coforge’s Q4 earnings showed a positive growth trajectory in sales and profit, concerns about margin expansion lingered, leading to a bearish sentiment among investors.

The acquisition of Cigniti Technologies Limited by Coforge raised questions regarding the integration process and long-term value creation for shareholders.

Rachel Adams

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