COFORGE

April 2 (Reuters) - Coforge Ltd COFO.NS:

• COFORGE AND SOLSTICE INNOVATIONS PARTNER FOR P&C INSURANCE MODERNIZATION THROUGH AGENTIC AI

Further company coverage: COFO.NS

((Reutersbriefs@thomsonreuters.com;))

** IT services provider receives RBI approval for an overseas investment exceeding $1 billion to complete its $2.35 billion acquisition of US AI firm Encora

** Shares of Coforge COFO.NS rise 3.8% to 1,157.10 rupees

** Deal was initially announced in December 2025, subject to regulatory approval

** COFO funded the $1.89 billion equity value of the deal through the issue of preference shares at 1,815.91 rupees apiece, while Encora shareholders will receive a 20% stake in the combined firm

** Encora is backed by Advent International and Warburg Pincus. Co offers AI solutions for product, cloud and data engineering

** Analysts have a "buy" rating on avg for COFO; median PT is 1,925 rupees - data compiled by LSEG

** YTD, COFO dowm ~30%

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com;))

** Coforge COFO.NS rises ~3.7% to 1150.7 rupees

** CLSA reiterates "high-conviction outperform" rating after hosting co's management to discuss AI narrative in IT sector

** PT of 2,278 rupees implies 105% potential upside

** CLSA says co will be "clear winner in the upcoming AI cycle"

** Adds co's Encora acquisition will have revenue and cost synergies, bolster co's data, cloud, AI-led engineering capabilities

** Stock rated "buy" on avg; median PT is 1,985 rupees, per data compiled by LSEG

** YTD, COFO down 31% vs IT index's .NIFTYIT 21% drop

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

** UBS initiates coverage on IT firm Coforge COFO.NS with "neutral" rating, PT of 1,240 rupees

** Brokerage highlights 15% annual revenue CAGR over FY26-FY28, driven by organic growth, acquisitions

** However, flags concerns over acquisitive strategy, weaker GenAI positioning vs peers

** Recent Encora acquisition at stretched valuations will weigh on shares despite adding capabilities, geographic diversification - UBS

**Notes AI positioning ahead of large-caps but trails midcap peers like Persistent Systems PERS.NS, LTIMindtree LTIM.NS due to limited exposure to AI-intensive verticals (consumer, hi-tech), lower Americas presence

** Stock rated "Buy" on average by 32 analysts; median PT 1,985 rupees - data compiled by LSEG

** COFO down 0.4% to 1085 rupees; YTD, down 34.5%

(Reporting by Mridula Kumar in Bengaluru)

((Mridula.Kumar@thomsonreuters.com;))

By Bharath Rajeswaran

Feb 25 (Reuters) - Indian shares have lagged their Asian and emerging market peers so far in February, pressured by a $68.6 billion rout in the market value of information technology stocks, as investors fretted over disruptions linked to artificial intelligence.

The Nifty 50 index .NSEI has risen 0.4% so far this month, while the Sensex .BSESN edged 0.1% lower, underperforming both the MSCI Asia ex-Japan and MSCI Emerging Markets indexes.

The 10 Nifty IT constituents .NIFTYIT have lost a combined $68.6 billion in market capitalisation in February, as of the last close, with the index down 21% and on course for its worst monthly performance in nearly 23 years.

All 10 index members have fallen between 16.8% and 27% in February to date. Coforge COFO.NS is the steepest percentage decliner, down 26.8%, while Tata Consultancy Services TCS.NS and Infosys INFY.NS have led the value erosion, losing about $21.9 billion and $16.3 billion in market value, respectively.

The selloff reflects growing concerns that rapidly advancing automation tools could compress project timelines and disrupt the labour-intensive delivery model underpinning India's roughly $300-billion IT services industry.

Investors have zeroed in on the AI-driven automation push from U.S. firms such as Anthropic and Palantir, heightening concerns over faster project execution, pricing pressure and reduced billable hours.

Brokerages warn the Indian IT sector could face further pressure if AI starts to eat into application services revenue, which typically accounts for 40% to 70% of total revenue for these companies.

"There are no easy answers to whether AI eventually renders IT services obsolete over the long term," said analysts led by Abhishek Pathak of Motilal Oswal.

"The narrative that AI is coming for not just IT but large swathes of the economy could be too strong to shake, at least in the short term," Motilal Oswal analysts said.

A slowdown or contraction in India's IT sector, whether through layoffs or reduced hiring, can have immediate consequences on both residential and commercial real estate demand. The Nifty Realty index .NIFTYREAL has risen roughly 2% in February, following a nearly 18% decline over the past three months.

Concerns over Indian IT companies have also accelerated foreign selling in the sector in 2026 so far.

While FPIs have turned buyers of Indian stocks in February on an overall basis, they pulled out about 110 billion rupees ($1.21 billion) from IT stocks in the first half of February, following a record 750 billion rupees of net selling in 2025.

($1 = 90.8980 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sherry Jacob-Phillips)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

** The recent correction in India's information technology sector presents an added buying opportunity, according to brokerage CLSA

** Indian IT stocks .NIFTYIT lost 12.5% in 2025, emerging as the biggest drag in benchmark indexes, which underperformed Asian and emerging-market peers

** The decline was triggered by record foreign outflows of $8.5 billion from the sector, muted corporate earnings and persistent weakness in U.S. client spending, the sector's primary revenue engine

** The pressure has intensified in 2026, with the IT index down 7% so far, amid rising concerns that advances in artificial intelligence, including new tools from U.S.-based Anthropic, could sharply compress software development cycles

** CLSA, however, downplays near-term disruption risks, arguing that enterprise technology ecosystems often take years to meaningfully adapt to new waves of innovation

** While the sector has weathered multiple disruptive narratives in the past, earnings have rarely suffered lasting damage, according to the brokerage

** CLSA favours mid-tier players Persistent Systems PERS.NS and Coforge COFO.NS, saying their agility positions them to capture emerging profit pools in the next technology cycle

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

Recasts throughout; adds analyst and fund manager comments

By Kashish Tandon and Vivek Kumar M

BENGALURU, Feb 6 (Reuters) - Indian software exporters plunged another 2% on Friday and looked set to end a tumultuous week that has seen $22.5 billion in market value losses on growing fears that new AI tools could severely disrupt the country's IT outsourcing industry.

The selloff was part of a global rout in software and data services stocks, triggered by the launch of an AI tool from Anthropic that automates tasks across legal, sales, marketing and data analysis functions.

The IT index .NIFTYIT was the worst-performing sector on the day and was down about 7% for the week - its steepest weekly drop in more than four months.

Analysts said fast-advancing AI tools could upend India's $283‑billion IT sector, which is heavily reliant on a labour‑intensive delivery model.

"The market fears (the AI tools) may replace IT services that are currently outsourced. What the real impact will be remains to be seen," said VK Vijayakumar, chief investment strategist at Geojit Investments.

The selloff comes as some IT firms have said they are gaining from clients showing more willingness to fund AI projects despite being careful about discretionary spending amid global economic uncertainty.

Top IT firms TCS TCS.NS, Infosys INFY.NS and Wipro WIPR.NS have secured AI-led deals and are rolling out domain-specific platforms across verticals such as BFSI and healthcare as clients accelerate adoption.

Still, the IT index has now shed nearly 18% since the start of 2025, including Wednesday's selloff, when it logged its biggest single‑day fall in six years. Foreign investors sold a record $8.5 billion worth of Indian IT stocks in 2025.

KNEE-JERK REACTION, SAY SOME ANALYSTS

Industry watchers were divided on their assessment of the situation.

Centrum Broking's Piyush Pandey called the selloff a "knee‑jerk" reaction.

"AI tools have been in the works and this is how the industry is now shaping up. However, they are not expected to materially disrupt the industry as of now," he said.

Others said the sector should brace for more pain down the road.

"Surely, there would be other tools in the making that will automate tasks and increase the competitive intensity in the IT industry," said Arun Malhotra, fund manager at CapGrow Capital.

Companies will likely take measures to address these challenges, including acquisitions, he added, but "we don't foresee the glory days of the IT sector, that has been missing for the last couple of years, returning soon."

All 10 constituents of the IT sub-index traded lower on Friday. Coforge COFO.NS was down 3.4%, while TCS and Infosys INFY.NS slipped nearly 2.1% and 1.4%, respectively.

The benchmark Nifty 50 .NSEI was down 0.3%.

($1 = 90.2350 Indian rupees)

(Reporting by Kashish Tandon and Vivek Kumar M in Bengaluru; Editing by Dhanya Skariachan, Mrigank Dhaniwala and Sonia Cheema)

((Kashish.Tandon@thomsonreuters.com; 8800437922;))

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

• NOT TO GO AHEAD WITH QIP

Further company coverage: COFO.NS

((Reuters.Briefs@thomsonreuters.com;))

By Bharath Rajeswaran and Sai Ishwarbharath B

Jan 8 (Reuters) - India's information technology firms are expected to report another muted quarter, as tepid demand in the U.S. and holiday-period client shutdowns continue to weigh on tech spending, nine brokerages said ahead of earnings.

Brokerages expect the top six IT firms by revenue to post about 4% year-on-year revenue growth and a 5% rise in profit for the December quarter on average, reflecting prolonged demand softness, compared with 6.5% revenue growth in the September quarter.

Indian software exporters last reported double-digit revenue growth in the March quarter of 2023, when digital transformation, cloud adoption and remote-work demand surged in the post-pandemic period.

The broader $283 billion Indian IT industry continues to face macro headwinds, including uncertainty over U.S. tariffs, challenges from proposed $100,000 visa fees, and subdued client spending on concerns about growth in the world's largest economy.

India's IT companies earn a significant share of their revenue from the United States, making the world's largest economy crucial for the sector.

Sector bellwether Accenture's ACN.N recent earnings beat Wall Street expectations on AI-led demand, though its unchanged growth outlook underscores the cautious near-term environment.

Although India has no pure-play AI firms, IT companies are beginning to shape AI strategies through acquisitions and partnerships. Brokerages expect AI momentum to build over the next six months and demand to pick up into 2026.

"Clients remain cautious about committing incremental spending to large programs amid macro and tariff uncertainty and a new tech cycle," said Abhishek Pathak, research analyst at Motilal Oswal Financial Services.

U.S. tariff uncertainty, visa worries and weak spending drove record foreign outflows of $8.5 billion from IT stocks in 2025, nearly half of total foreign exits from Indian equities.

The Nifty IT index .NIFTYIT fell 12.6% in 2025, making it the worst-performing sector as Indian markets lagged Asian and emerging-market peers.

Tata Consultancy Services TCS.NS, the country's largest IT firm, will kick off the earnings season on January 12. Its revenue is expected to rise about 4.2% year-on-year, slower than the 5.6% growth reported last year.

Infosys INFY.NS and HCLTech HCLT.NS are forecast to report year-on-year revenue growth of about 8.1% and 4.6%, respectively, compared with 7.6% and 5.1% in the year-ago period.

Most brokerages do not expect HCLTech to upgrade its fiscal 2026 annual revenue forecast of 2%–3%, or Infosys to raise its forecast of 3%–5%.

Earnings across domestic equities are expected to improve in the December quarter on tax cuts, policy easing, stable growth and benign inflation, even as the period remains structurally weak for IT firms.

Fewer working days due to global client holidays weigh on billing and revenue, while brokerages flag margin pressure from furloughs and wage hikes at firms such as TCS and Wipro WIPR.NS.

However, resilience in the BFSI (banking, financial services and insurance) segment, deal ramp-ups, early signs of artificial intelligence strategy formation and rupee depreciation could offer support by mid-2026, six brokerages said.

(Reporting by Bharath Rajeswaran and Sai Ishwarbharath B in Bengaluru; Editing by Sherry Jacob-Phillips)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

** Indian IT firm Coforge COFO.NS to buy Encora at enterprise value of $2.35 billion to boost in-house AI capabilities and expand its footprint in US and Latin America

** However, analysts say the deal is expensive, cautioning against near term earnings and stock price dilution

** Morgan Stanley analysts call the deal a "bold move" but say the price tag appears expensive and is likely to be dilutive to earnings

** Stock trading 1.2% higher at 1,694 rupees, pulling back from initial decline of 2.2%

** COFO's preference share issue creates an overhang once the lock-in period ends, Morgan Stanley says, forecasting a 12–13% decline in Coforge's stock

** DAM Capital analysts say deal to be EPS dilutive, especially since price paid is higher than COFO's current valuation

** YTD, COFO down 12.4% vs IT index's .NIFTYIT 10.9% drop

(Reporting by Kashish Tandon in Bengaluru)

((Kashish.tandon@thomsonreuters.com))

Dec 24 (Reuters) - Coforge Ltd COFO.NS:

• LAUNCHES EVOLVEOPS.AI IT OPERATIONS PLATFORM

Source text: ID:nBSE8TsT9V

Further company coverage: COFO.NS

((Reuters.Briefs@thomsonreuters.com;;))

Nov 24 (Reuters) - Coforge Ltd COFO.NS:

• COFORGE - LAUNCHES FORGE-X ENGINEERING AND DELIVERY PLATFORM

Source text: ID:nNSE2pBpkg

Further company coverage: COFO.NS

((Reuters.Briefs@thomsonreuters.com;))

** Shares of Coforge COFO.NS rise 1% to 1,568 rupees

** CLSA initiates coverage with "outperform" rating, sets PT at 2,346 rupees, implying 51.1% upside from last close

** Broker cites stellar execution and a solutioning-led sales approach under CEO Sudhir Singh

** Expects revenue/EBIT/EPS CAGRs of 15%/16%/22% CAGR over FY26–FY28

** Highlights co's focus on large clients, verticals, tech partners, and acquisitions as key growth drivers

** COFO rated "buy" by 32 analysts on average; median target price is 1,960 rupees – data compiled by LSEG

** Stock down 18.9% YTD

(Reporting by Rudra Pratap Singh in Bengaluru)

((rudrapratap.singh@thomsonreuters.com))

Sept 22 (Reuters) - Indian information technology stocks .NIFTYIT fell 3.6% on Monday after U.S. President Donald Trump imposed a $100,000 fee on new H-1B visa applications, threatening the sector's long-standing model of rotating skilled workers into the U.S.

The index was the top sectoral loser, dragging the benchmark Nifty 50 .NSEI 0.3% lower.

All 10 stocks on the index traded lower, with losses led by Tech Mahindra's TEML.NS 5.8% slump.

(Reporting by Kashish Tandon in Bengaluru; Editing by Janane Venkatraman)

((Kashish.Tandon@thomsonreuters.com; 8800437922;))

Adds charts, gives more details in paragraph 4 and paragraph 6 onwards

By Vivek Kumar M

Aug 8 (Reuters) - MSCI will add four Indian stocks, including retailer Vishal Mega Mart VSSL.NS and online delivery platform Swiggy SWIG.NS, to its flagship MSCI Global Standard index .MIEF00000PUS, setting them up for potential total inflows of $1 billion.

Hitachi Energy India HITN.NS and Waaree Energies WAAN.NS will be the other two additions to the index, while Sona BLW SONB.NS and Thermax THMX.NS will be dropped, the index provider said in a statement dated August 7.

The changes will take place as of the close of August 26, MSCI said.

Swiggy is expected to get inflows worth up to $289 million, while Vishal Mega Mart can get $258 million in passive fund flows as a result of the addition, IIFL Alternate Desk said. They added that Hitachi Energy is likely to draw $230 million of inflows, and Waaree Energies $233 million.

All the six shares were trading lower on the day in a weak market. Meanwhile, information technology company Coforge COFO.NS was down 4%, among top 3 midcap .NIFMDCP100 losers, as it failed to make it to the MSCI Global Standard index.

MSCI's indexes are used by investors globally, with about $16.9 trillion of assets under management benchmarked to their equity indexes.

The index provider will reduce Swiggy rival Eternal's ETEA.NS weight in the flagship index, leading to outflows of up to $607 million, as per IIFL Alternate Desk.

Eternal's weight was expected to be lowered amid its proposal to convert to Indian owned and controlled company (IOCC), capping foreign ownership to 49.5%.

Apart from Eternal, three other Indian stocks - Asian Paints ASPN.NS, Jindal Steel JNSP.NS and Havells India HVEL.NS will see weight cuts, while CG Power and Industrial Solutions' CGPO.NS weight will be increased.

The index provider also announced the addition of 15 Indian stocks and removal of six from its Global Smallcap index.

(Reporting by Vivek Kumar M; Editing by Ronojoy Mazumdar)

((VivekKumar.M@thomsonreuters.com;))

** India's Coforge COFO.NS falls 8.2% to 1,698 rupees, set for worst day since May 2024

** Stock second biggest pct loser on midcap index .NIFMDCP100, which is trading 0.6% lower

** Mid-cap IT services co reported higher quarterly profit and revenue but analysts say margins were a miss due to softness in key banking and financial services vertical

** Growth was largely driven by the Americas, however, BFSI growth was relatively weak, resulting in EBIT margins below consensus, Morgan Stanley analysts say

** Peer Persistent Systems PERS.NS reported higher Q1 profit but analysts flag macro headwinds could hit growth

** Avg rating on COFO at "buy"; median PT is 1,810 rupees - data compiled by LSEG

** Stock extends YTD decline to 12% vs midcap index's 3.1% climb

(Reporting by Kashish Tandon in Bengaluru)

((Kashish.tandon@thomsonreuters.com))

** 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)

((Kashish.tandon@thomsonreuters.com))

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

((Reuters.Briefs@thomsonreuters.com;;))

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

• COFORGE LTD - ANNOUNCES STRATEGIC PARTNERSHIP WITH NYLAS

Source text: ID:nBSEZjfrn

Further company coverage: COFO.NS

((reuters.briefs@thomsonreuters.com;))

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)

((Haripriya.Suresh@thomsonreuters.com;))

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

((Reuters.Briefs@thomsonreuters.com;;))

** 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)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

** 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)

((Kashish.tandon@thomsonreuters.com))

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

• COFORGE LTD - SABRE LAUNCHES STRATEGIC COLLABORATION WITH COFORGE

Source text: ID:nNSE6pCGpS

Further company coverage: COFO.NS

((Reuters.Briefs@thomsonreuters.com;;))

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

• COFORGE LTD - BOARD TO CONSIDER SHARE SPLIT

Source text: ID:nBSE809vNJ

Further company coverage: COFO.NS

((Reuters.Briefs@thomsonreuters.com;;))

** 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)

((VivekKumar.M@thomsonreuters.com))

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)

((Diaries@thomsonreuters.com))

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)

((Diaries@thomsonreuters.com))

** 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)

((Manvi.Pant@thomsonreuters.com; +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)

((aleefjahan.cs@thomsonreuters.com))