Coforge Ltd. on Tuesday said its board of directors is scheduled to meet on March 4, 2025, to consider the proposal of stock split.
The board meeting will be held 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", an exchange filing stated.
The proposed stock split is subject to approval from the existing shareholders along with other approvals required under the applicable laws, it added.
The company's trading window for dealing in its shares will remain closed with immediate effect for "all designated persons and their immediate relatives," the filing further said. The trading window will re-open 48 hours after determining the outcome of the meeting, it added.
Coforge Q3 Performance
Coforge Ltd.'s consolidated net profit for the October-December quarter fell short of expectations. The net profit increased by 6.6% sequentially, reaching Rs 216 crore, compared to Rs 202 crore in the previous quarter.
However, analysts' consensus estimates compiled by Bloomberg had projected a bottom line of Rs 270 crore.
Revenue from operations climbed 8.4% sequentially, rising from Rs 3,062 crore to Rs 3,318 crore. This surpassed Bloomberg's estimate of Rs 3,139 crore.
Shares of Coforge closed 0.07% higher at Rs 7,633.75 apiece on the National Stock Exchange, compared to a 0.03% fall in the benchmark Nifty 50. The stock has risen by 15.78% in the last 12 months.
Twenty-four out of the 38 analysts tracking the company have a 'buy' rating on the stock, four recommend 'hold' and 10 suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 24.6%.
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