Coforge also announced acquisition of Cigniti Tech (CIGN IN; NR), an assurance (testing) company. Management believes Cigniti complements Coforges verticals, geo footprint and client relationships. Coforge has done comprehensive audit (financial and forensic) of the target and finds comfort in scaled relationships and in-place contracts (MSAs over SOWs). We estimate that at current price, the acquisition will be EPS accretive.
The consolidated revenue for Q3FY24 was up 13% yoy to Rs 2,323.3 crore as compared with Rs 2,055.8 crore and up 2.2% quarter-on-quarter (qoq) from Rs 2,272.2 crore.
The number of deals also saw a significant 66% increase, totalling 340 in CY23 compared to 205 in CY22. Notably, block deals took precedence, contributing to the substantial rise by generating over $20 billion through several large deals.
Mutual funds are one of the popular ways of investment among retail investors in India. There are three main categories of mutual funds available in the Indian market. Largecap Funds, Midcap Funds, and Smallcap Funds are the most popular funds.
Midcap funds are mutual funds that invest on companies with a market capitalisation in the middle range of listed stocks. The funds are more stable than the smallcap funds but tend to offer lesser returns. As per Association of Mutual Funds in India (AMFI) data for July, midcap funds saw healthy inflows of Rs 2,512.34 crore, increasing from Rs 1,623.33 crore in July 2023. Here s a quick comparison between Motilal Oswal Midcap Fund and Canara Robeco Mid Cap Fund