COFORGE

** Motilal Oswal says India's Coforge's COFO.NS executable order book sets the floor for a "solid" fiscal 2026

** COFO's revenue growth CAGR of 17% between FY17 to FY25 is highest among peers and boosted by its BFSI and transportation verticals - Motilal

** Adds, management's commitment to achieve $2 bln revenue by FY27, led by digital transformation-led demand, ensures high revenue visibility for COFO over next 12-18 months

** Stock trading 1.2% higher on the day

** Brokerage reiterates "Buy" rating with PT of 2,200 rupees

** COFO among five stocks on 10-member IT index .NIFTYIT rated "Buy" - data compiled by LSEG

** YTD, COFO down 2.6% vs IT index's 10% decline

(Reporting by Kashish Tandon in Bengaluru)

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June 23 (Reuters) - Coforge Ltd COFO.NS:

• COFORGE LTD - COLLABORATES WITH DUKE'S FUQUA SCHOOL TO ACCELERATE GEN AI ADOPTION

Source text: ID:nBSEmd7hf

Further company coverage: COFO.NS

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May 27 (Reuters) - Coforge Ltd COFO.NS:

• COFORGE LTD - ANNOUNCES STRATEGIC PARTNERSHIP WITH NYLAS

Source text: ID:nBSEZjfrn

Further company coverage: COFO.NS

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Corrects syntax in paragraph 1

By Haripriya Suresh

BENGALURU, April 4 (Reuters) - India's $283-billion IT sector should brace for a rough year ahead as tariffs are likely to stoke inflation in its key U.S. market and force clients to cut spending, analysts said.

Although President Donald Trump did not impose direct tariffs on IT services, Indian firms are expected to feel the heat as clients, especially in manufacturing, logistics and retail sectors, adjust to the new levies.

That could slow deal cycles, delay existing projects and hurt revenue growth, analysts said. Bernstein and ICICI Securities rushed to cut their ratings on the Indian IT sector soon after the tariff announcement.

The tariffs come at a time the sector was counting on Trump to revive client confidence and discretionary spending after years of weak revenue growth.

The U.S. accounts for more than half of India's $190 billion software exports, making the sector sensitive to shifts in spending confidence among businesses in the world's largest economy. J.P.Morgan on Friday lifted global and U.S. recession odds to 60% after Trump's tariff announcement.

"With a rising risk of U.S. recession and uncertain decision-making, we think chances of fiscal 2026 being a complete washout are rising," J.P. Morgan said in a note on Friday, without giving specific numbers.

At least six analysts expect Indian IT firms to issue a "conservative" annual revenue growth forecast when quarterly results start next week.

Companies with a greater exposure to discretionary spending are expected to bear the brunt of any tariff-fueled slowdown.

"Discretionary IT spend will likely see an impact across the industry verticals. Companies to get impacted will typically be the high-growth companies in the large caps and some of the mid-caps where the exposure usually is much higher on the discretionary side," BNP Paribas analyst Kumar Rakesh said.

He added the impact of a potential slowdown could be apparent by the September quarter.

India's Nifty IT index .NIFTYIT fell 3.6% on Friday to take its losses for the week to 9.15%, the steepest weekly fall for the index in more than five years.

(Reporting by Haripriya Suresh; Editing by Dhanya Skariachan, Sonia Cheema and Saumyadeb Chakrabarty)

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March 27 (Reuters) - Coforge Ltd COFO.NS:

• ENHANCES COLLABORATION WITH MICROSOFT TO BOOST DEVELOPER PRODUCTIVITY

• TRAINS OVER 10,000 DEVELOPERS ON GITHUB COPILOT

Source text: ID:nBSE5rZfJD

Further company coverage: COFO.NS

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** Morgan Stanley tweaks its India focus list of stocks to add IT company Coforge COFO.NS and airlines operator Interglobe Aviation INGL.NS

** Brokerage removes Infosys INFY.NS and automaker Mahindra & Mahindra MAHM.NS to accommodate the additions

** Brokerage remains positive on large private sector financials, consumer, industrial and IT stocks

** Large-deal momentum, increasing addressable market, execution track record bodes well for COFO's growth prospects, it says

** Adds, COFO's recent underperformance over IT stocks offers good entry point

** COFO down 25% in 2025 so far; IT .NIFTYIT lost 17%

** INGL's rising market share in India, one of the fastest growing aviation markets, to aid earnings over fiscal years 2025-2027, according to Morgan Stanley

** COFO little changed on the day, INGL is up 1.6%; INFY and MAHM up 0.4% and 1.9%, respectively

(Reporting by Bharath Rajeswaran in Bengaluru)

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** India's Coforge COFO.NS climbs 5.5% to 7,609.55 rupees, set to snap four-session losing streak

** IT services provider says it entered a partnership with travel booking provider Sabre Corp SABR.O

** Partnership for 13 years and valued at $1.56 billion

** Stock top pct gainer on IT index .NIFTYIT, which is up 1%

** COFO among four stocks rated "buy" in 10-member IT index, rest rated "hold" - data compiled by LSEG

** Stock down 21% YTD vs IT index's 14% decline

(Reporting by Kashish Tandon in Bengaluru)

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March 4 (Reuters) - Indian IT services provider Coforge COFO.NS said on Tuesday it had entered into a 13-year agreement valued at $1.56 billion with Sabre Corp SABR.O to strengthen the U.S.-listed travel booking provider's product roadmap.

The agreement will further Sabre's ability to accelerate product delivery and launch additional artificial intelligence-driven solutions, Coforge added in an exchange filing.

"The scale and the complexity of the mandate reflect the deep trust and capability that both organizations bring to this partnership," Coforge CEO Sudhir Singh said.

(Reporting by Ananta Agarwal in Bengaluru; Editing by Shreya Biswas)

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Feb 25 (Reuters) - Coforge Ltd COFO.NS:

• COFORGE LTD - BOARD TO CONSIDER SHARE SPLIT

Source text: ID:nBSE809vNJ

Further company coverage: COFO.NS

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** India's Fortis Healthcare FOHE.NS, One 97 Communications PAYT.NS, Coforge COFO.NS and four other stocks rise between 1% and 5% ahead of MSCI rebalancing announcement post-market hours on Feb. 11

** Eight Indian stocks likely to be included in MSCI indexes, attracting $1.28 billion inflows, says JM Financial Services

** MSCI indexes tracked widely by investors, passive funds globally

** FOHE, PAYT, COFO, and Coromandel International CORF.NS up 5.3%, 2.7%, 1.4% and 1% respectively; JM Financial Services sees high probability of their inclusion

** Blue Star BLUS.NS, Federal Bank FED.NS, Uno Minda UNOI.NS, and GE Vernova TD India GETD.NS are JM Financial's "low conviction" inclusion candidates, up 0.1%-5%

(Reporting by Vivek Kumar M)

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Jan 27 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including Creditaccess Grameen, Generali, and Legal & General, on Monday.

HIGHLIGHTS

Following is a summary of research actions on European companies reported by Reuters on Monday. Stock entries are in alphabetical order.

(Compiled by Bengaluru Newsroom)

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Jan 24 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including Anglo American, Energean, and Savills, on Friday.

HIGHLIGHTS

Following is a summary of research actions on European companies reported by Reuters on Friday. Stock entries are in alphabetical order.

(Compiled by Bengaluru Newsroom)

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** Shares of IT firm Coforge COFO.NS jump 8.7% to 8,947.2 rupees

** Co reported ~43% Y/Y rise in Q3 consol revenue to 33.18 bln rupees (~$384 mln)

** Profit before tax grew ~17%

** Stock top gainer on 10-member Nifty IT index .NIFTYIT, which is up ~1%

** Over 500,000 shares traded in first 15 minutes of trading, higher than 30-day avg of 447,967 shares

** Analysts' avg rating on COFO stock is "buy", median PT is 8,425 rupees - LSEG data

** Stock one of three rated "buy" on IT index

** COFO is second-most expensive stock with fwd 12-mth PE ratio of 41.6 on IT index

** Stock gained 54% in 2024 vs 22% rise in NIFTYIT

($1 = 86.4725 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Coforge COFO.NS rise 1.8% to a record high of 9,638 rupees

** Stock on track for its third straight day of gains; also its third straight session of hitting all-time high

** Stock is top gainer on Nifty IT Index .NIFTYIT, which is down 1.3%

** Reuters could not immediately ascertain the reason behind COFO's move

** COFO sees third-busiest day in over a month, with over 467,000 shares traded

** Analysts' avg rating on stock is "buy," vs "hold" on peers LTIMindtree LTIM.NS and Mphasis MBFL.NS - LSEG

** Their median PT on COFO is 8,150 rupees - LSEG

** Stock up 53.6% YTD vs 26% gain in Nifty IT Index

(Reporting by Aleef Jahan in Bengaluru)

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Dec 10 (Reuters) - Coforge Ltd COFO.NS:

• PARTNERS WITH ACORD SOLUTIONS GROUP

• PARTNERSHIP TO DRIVE AUTOMATED SUBMISSIONS AND DATA EXCHANGE

Source text: ID:nBSE2jjHL2

Further company coverage: COFO.NS

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** Shares of India's Coforge COFO.NS surge 11% to 7515 rupees

** IT company's consol Q2 revenue jumped 35% YoY, and profit climbed 12%

** Co and Persistent Systems PERS.NS with 10% rise are among top pct gainers on the Nifty IT index .NIFTYIT, which is up 2.6%

** About 2.3 mln shares traded vs 30-day avg of 469k

** Stock rated "hold" on an avg, trading 6.6% higher than its median TP of 7053 rupees - LSEG data

** YTD stock had risen 19%, in-line with NIFTYIT

(Reporting by Hritam Mukherjee in Bengaluru)

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Oct 4 (Reuters) - Coforge Ltd COFO.NS:

• SECOND INTERIM DIVIDEND OF 19 RUPEESPER SHARE

Source text for Eikon: ID:nNSE9cmxBl

Further company coverage: COFO.NS

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** Shares of Coforge COFO.NS rise as much as 3.9% to 6,421.4 rupees, highest since March 5

** Stock top gainer on Nifty IT index .NIFTYIT, which is up 0.02%

** Co shows "definite signs" of improvement in outlook led by travel, tourism and hospitality segment, said analysts at Centrum Institutional Equities

** Expect rev and EBITDA to grow at 17% and 22.2%, respectively over FY24-FY26- Centrum

** Deal ramp-ups supported growth in Q1, will continue to do

so in 2Q, said analysts at Jefferies

** Analysts covering COFO on avg have a "buy" rating on stock vs "hold" rating on peers LTIMindtree LTIM.NS, Tech Mahindra TEML.NS and Mphasis MBFL.NS- LSEG data

** COFO up 16% so far in July, eyes best monthly gain since Aug.

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

July 5 (Reuters) - Coforge Ltd COFO.NS:

• CO FURTHER ACQUIRED 4,618,199 EQUITY SHARES OF CIGNITI

• ACQUISITION REPRESENTS 16.92% OF CURRENT PAID UP SHARE CAPITAL OF CIGNITI

• COST OF ACQUISITION 1,398.50 RUPEES PER SHARE

Further company coverage: COFO.NS

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** Shares of IT services provider Coforge COFO.NS rise 1.7% to 5,418 rupees

** COFO among top gainers on Nifty IT index .NIFTYIT, which is up 1.72%

** Kotak Institutional Equities initiates coverage on the stock with "buy" rating; sets TP at 6,000 rupees, a ~13% premium to COFO's last close

** Strong order execution has led to consistent growth outperformance; co has gained wallet share with existing clients, which improves revenue - Kotak

** Brokerage expects healthy rev growth in long run on acquisition of new clients, share gains in existing accounts and market expansion

** Avg rating of 27 analysts covering the stock is "buy", median TP 5,551 rupees - LSEG data

** Stock up ~9% so far in June vs a ~11% gain in IT index

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

June 26 (Reuters) - Coforge Ltd COFO.NS:

• COFORGE LTD - COMPANY HAS EXECUTED DEFINITIVE AGREEMENTS TO ACQUIRE MAJORITY STAKE IN CIGNITI TECHNOLOGIES

• COFORGE LTD - COMPETITION COMMISSION OF INDIA APPROVED PROPOSED ACQUISITION

Source text for Eikon: ID:nBSE9wY6q4

Further company coverage: COFO.NS

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May 28 (Reuters) - Coforge Ltd COFO.NS:

• APPROVED ISSUE OF UP TO 4.9 MILLION EQUITY SHARES TO 143 QUALIFIED INSTITUTIONAL BUYERS AT ISSUE PRICE OF 4,600 RUPEES PER SHARE

Further company coverage: COFO.NS

(([email protected];))

By Sai Ishwarbharath B

BENGALURU, May 22 (Reuters) - Mid-tier firms in India's $254 billion information technology sector took market share from industry goliaths in recent quarters as clients curtailed discretionary spending amid inflationary pressures and economic uncertainty, analysts said.

Unlike their larger rivals such as Tata Consultancy Services TCS.NS and Infosys INFY.NS, mid-tier IT firms tend to focus on short-term deals aimed at helping clients cut costs rather than chase large-scale projects.

The practice has paid off in an environment of slowing demand in prominent markets such as North America and Europe.

LTIMindtree LTIM.NS, Coforge COFO.NS, Mphasis MBFL.NS and Persistent Systems PERS.NS are "increasingly viewed as challengers in (winning) Fortune 500 accounts, aiding the share gain process," Kotak Institutional Equities said.

The smaller companies could outperform their larger rivals further once discretionary spending improves, Kotak analysts Kawaljeet Saluja, Sathishkumar S and Vamshi Krishna said.

This should set the mid-tier IT firms up well as they try to win more budget-conscious clients in an economic backdrop where U.S. interest rates are expected to stay "higher for longer". Industry body Nasscom estimated overall revenue growth more than halved to 3.8% last financial year.

"In the current macro environment, clients are increasingly looking at service providers (that) deliver services at lower and predictable costs with better business outcomes," said Avinash Baliga, partner at consulting firm Avasant.

Persistent Systems CEO Sandeep Kalra and Mphasis CFO Manish Dugar confirmed the market share gains. India's larger IT firms did not respond to Reuters' requests seeking comment.

"We are able to hold our own and win against the larger piers as clients are looking for competency and not scale," Dugar told Reuters.

The market share of India's top five IT firms fell 17 basis points in 2023, reflecting the inroads made by the mid-tier IT firms, according to BNP Paribas data shared exclusively with Reuters. However, the top five IT firms still owned 88.35% of the market as of December 2023 among the top 10 firms.

On the stock market, share prices of Mphasis and Persistent Systems advanced 23.7% and 42.5% respectively in the last 12 months compared to a 16% gain in the broader Nifty IT Index.

In April, Infosys forecast fiscal 2025 revenue growth between 1% and 3% in constant currency terms, while most analysts had expected it to be at least in the range of 2% to 5%.

"Due to the sheer size they have reached, larger players have given muted guidance," said Ashok Soota, founder of mid-tier IT firm Happiest Minds Technologies HAPP.NS , which also gained market share. "We need to be humble about this as (our) market share is (relatively) small on the grand total."

(Reporting by Sai Ishwarbharath B; Editing by Dhanya Skariachan and Shri Navaratnam)

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May 21 (Reuters) - Coforge Ltd COFO.NS:

• COFORGE ANNOUNCES LAUNCH OF COPILOT INNOVATION HUB IN COLLABORATION WITH MICROSOFT

• COLLABORATION TO ACCELERATE ENTERPRISE ADOPTION OF GENERATIVE AI

Source text for Eikon: ID:nBSE57frmH

Further company coverage: COFO.NS

(([email protected];))

** Shares of Coforge COFO.NS down 8.5% at 4,560.45 rupees, set for worst day since April 3, 2020

** COFO top pct loser on Nifty IT index .NIFTYIT, which is down 0.2%; stock at lowest price since June 26, 2023

** Co's Q4 revenue fell short of analysts' estimate on Thursday

** Jefferies double-downgrades COFO to "underperform", cuts PT to 4,290 rupees from 7,650 rupees

** Says key negative surprise was co not offering growth guidance for FY25; adds acquisition of Cigniti adds another layer of execution risk and imminent QIP may be an overhang

** At least 12 analysts cut their PTs - avg PT is 5,761.39 rupees, rating is "hold" - LSEG

** Four of top five Indian IT firms, which doesn't include COFO, rated "hold" on avg; Infosys INFY.NS only "buy" rated stock in IT index- LSEG

** YTD, COFO down 27.35% - most in 10-member IT index

(Reporting by Varun Vyas in Bengaluru)

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May 2 (Reuters) - An alert on India's Coforge COFO.NS signing a deal with Cigniti Technologies CIGN.NS has been withdrawn as it was incorrectly tagged to unrelated U.S. lender Citigroup C.N.

For the correct set of alerts on the Coforge deal, click nFWN3H50DV

Story number: nFWN3H51N0

Story date: 02 May, 2024

Story time: 1142 GMT

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April 22 (Reuters) - Coforge Ltd COFO.NS:

• TENURE OF BASAB PRADHAN AS CURRENT CHAIRPERSON OF BOARD IS EXPIRING ON JUNE 28

• APPROVED APPOINTMENT OF OM PRAKASH BHATT AS CHAIRPERSON OF BOARD

Source text for Eikon: ID:nBSE13N51H

Further company coverage: COFO.NS

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March 27 (Reuters) - EFC (I) Ltd EFCI.BO:

• EFC (I) LTD - EFC SECURES DESIGN AND BUILD SERVICES CONTRACT FROM COFORGE

• EFC (I) LTD - CONTRACT VALUE IS ABOUT 245.4 MILLION RUPEES

Source text for Eikon: ID:nBSE50skQg

Further company coverage: EFCI.BO

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** Shares of IT services firm Coforge COFO.NS down as much as 7.2% at 5,675 rupees

** If levels hold, Coforge stock on track for worst day since Feb 2023

** Coforge is top percentage loser in Nifty IT index .NIFTYIT, which is down nearly 1%

** Reuters could not immediately ascertain a reason for the stock move

** COFO and Infosys INFY.NS only stocks in 10-member IT index with avg analyst rating of "buy" - LSEG

** Chart below shows COFO has outperformed Nifty IT in current fiscal year so far

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

March 13 (Reuters) - Coforge Ltd COFO.NS:

• COFORGE TO CONSIDER AND APPROVE PROPOSAL FOR RAISING OF FUNDS

Source text for Eikon: ID:nBSE9wR5K2

Further company coverage: COFO.NS

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