NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Coforge Ltd. shares could remain in focus after the company announced the resignation of Chairman and Non-Executive Independent Director OP Bhatt with immediate effect.
Brokerage firm Motilal Oswal Financial Services has reiterated its 'Buy' rating on Coforge with a target price of Rs 2,200, implying an upside potential of about 19% from the brokerage's stated current market price of Rs 1,845, saying the development is unlikely to materially impact the company's business outlook.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
ALSO READ: Karamtara Engineering IPO Enters Day 2: 10 Key Things To Know Before You Subscribe
According to the brokerage, Bhatt's resignation followed observations arising from an internal audit of the board evaluation exercise, which identified concerns related to the evaluation process and disclosure of certain material information. The board had sought an explanation from Bhatt and was reviewing his response before he stepped down.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
