Coforge Shares Gain As Over 25% Equity Changes Hands In Large Trade
153 lakh shares changed hands in large trade at Rs 4,750.55 apiece.
Shares of Coforge Ltd. rose the most in nearly three months after 25% equity or 1.53 crore shares changed hands in large trade at Rs 4,750.55 apiece, according to Bloomberg data.
Another 12 lakh shares changed hands in large trade at Rs 5,016.90 per share around 10:09 a.m. The buyers and sellers were not known immediately.
Shares of the company advanced 4.75%, before paring gains to trade 3.40% higher at 10:12 a.m., compared to a 0.56% rise in the Nifty.
The stock rose the most since May 26. It has risen 30.6% on a year-to-date basis. The total traded volume stood at 179.3 times its 30-day average. The relative strength index was at 58.1.
Of the 34 analysts tracking the company, 19 maintain a 'buy' rating, eight recommend a 'hold' and seven suggest a 'sell' on the stock, according to Bloomberg data. The average 12-month consensus price target implies a potential downside of 2.1%.
