Shares of Coforge Ltd. gained the most since Nov. 11 after it partnered with Tokio Marine HCC to drive IT transformation worldwide.
The IT solution provider, along with the specialty insurance group Tokio Marine, will deliver business solutions at optimum costs while minimising the delivery risk, the company said in exchange filings.
“Coforge's global reach in providing deep technical and industry expertise will be a critical factor going forward for all Tokio Marine HCC businesses," said Brad Breau, TMHCC's senior vice president and chief information officer.
At 2:30 p.m., shares of Coforge traded with 2.98% gains at Rs 4,156.75 apiece, while the benchmark Nifty 50 gained 0.40%. The total traded volume is 3.7 times its 30-day average.
Of the 27 analysts tracking the company, 20 maintain a 'buy,' three suggest 'hold,' and four recommend a 'sell', according to Bloomberg data. The 12-month consensus price target implies an upside of 3.1%.
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