The firm, which has signed a definite agreement with the IT services management company, believes the acquisition will improve company’s operating margins by 150-200 bps by FY27 and help grow to become a $2-billion company
For years, it has been customary for IT services companies to announce large deal wins. Investors get excited by those big-dollar numbers. A careful reading of the fine print around such deal wins reveals a lot more than what meets the eye.
FIIs raised stakes in multiple IT stocks in Q4, hoping for a turnaround in FY25. However, they sold IT stocks in April, leading to a 4.4% drop in the Nifty IT index. Various companies and sectors were involved in these transactions.
Coforge Q4 shareholding pattern: FPIs upped their holding in the IT firm by 96 basis points to 35 per cent from 34.04 per cent in the December quarter.