Board of Directors of leading IT sector company Coforge will convene meeting on March 4, 2025 to consider the proposal of stock split. Earlier, the company on January 23, 2025 recommended an interim dividend of Rs 19/- per equity share of the face value of Rs 10/- each for the financial year 2024-25. Shares traded ex-dividend on January 30, 2025 Last trading price of Coforge shares on BSE stood at Rs 7661.10 per share. Coforge share price declined 20.42% year-to-date.
During the same time, Sensex fell 4.97%, BSE Focused IT index declined 9.49%, and BSE Technology index dived 11.00%. Meanwhile, the company has a market cap of Rs 51,232.15 crore. The return on equity of Coforge stood at 12.70%. It is worth mentioning that Life Insurance Corporation of India (LIC) and SBI Life Insurance have stake of 5.31% and 2.09%, respectively. Check more details below:
Coforge To Consider Stock Split Soon
As per the exchange filing of Coforge issued after market hours today, “meeting of Board of Directors of the Company is scheduled to be held on Tuesday, March 04, 2025, inter-alia to consider the proposal of alteration in the share capital of the Company by sub-division/ split of the existing Equity Shares of the face value Rs. 10/- each, fully paid-up, in such a manner as may be determined by the Board of Directors subject to approval of the shareholders of the Company and any approvals, as may be required under applicable law.”
What Is Stock Split And How It Helps?
When a firm declares stock split or sub-division, it will lead to increased number of shares with the market capitalisation staying same. When the number of shares rise, the price per share will fall. Companies opt for stock split to make the share affordable for shareholders who may find it tough to buy the shares of that company due to higher prices.
Coforge Stock Split History
This is going to be the maiden stock split of the company if it gets approved on March 4, 2024.
Coforge Dividend History
The company recommended 33 dividends since 2005. In last 1-year, the IT stock recommended an equity dividend of Rs 76.00 per share. It maintains a dividend yield of 1.00%.
Coforge Bonus Share History
It declared bonus share once since 2007 in the ratio of 1:2. Shares traded ex-bonus on August 30, 2007.
Shareholding
Number of FII/FPI investors zoomed from 488 to 600 for December 2024 quarter. Mutual Funds have increased holdings from 35.52% to 35.80% for December 2024 quarter. Number of MF schemes increased from 42 to 45 for December 2024 quarter. Institutional Investors have increased holdings from 90.24% to 90.41% for December 2024 quarter, according to Trendlyne.
Coforge Shares Performance
The 52-week high of Coforge share price 10,017.95 per share and 52-week low price is Rs 4,291.05 per share, respectively. Coforge shares gained 27.19% in last 6-months when BSE Sensex declined 8.00 and BSE IT index fell 8.04% during the similar tenure. Coforge shares zoomed over 15% in last 1-year and offered returns of 74.99% in last 2-years. The stock rallied over 305% in last 5-years.
Should You Buy Coforge Shares?
Brokerage firm had recommended Coforge shares (in its Feb 20, 2025 report) for a period of 15 days with target price of Rs 8,361.00 per share and asked to maintain the stop loss at Rs 7,613. The entry price range is suggested between 7722 to Rs 7,800.
Meanwhile, Nuvama Institutional Equties suggested buy call as well and upgraded the target price to Rs 10, 850 from Rs 8,650 earlier.
Disclaimer: The stock has been picked from the brokerage report of Axis Direct and Nuvama. Moneydaily.in, the author, and the respective brokerage house will not be held accountable for any losses caused as a result of decisions based on the article. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.
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