This IT stock to trade ex-dividend today; delivered multibagger returns over 3 years

Shares of Coforge Ltd (formerly NIIT Technologies) will turn ex-dividend today. The firm announced an interim dividend of Rs 19 during Q2 earnings. The firm declared its September quarter earnings on October 19. The IT firm’s consolidated net profit fell 10% to Rs 181 crore for the September 2023 quarter against a net profit of Rs 201 crore in the second quarter of FY23.

Gross revenue climbed 16% to Rs 2,276 crore in the quarter under review from Rs 1,959 crore in the year-ago period.

On Wednesday, Coforge stock touched an intraday high of Rs 5072.75 against the previous close of Rs 4983.15 on BSE. Later, the stock ended 0.85% higher at Rs 5025.50.

The stock hit a 52-week low of Rs 3565.20 on March 29, 2023 and a 52 week high of Rs 5760 on September 6, 2023.

Coforge shares have a beta of 1.1, indicating high volatility in a year.

In terms of technicals, the relative strength index (RSI) of the stock stands at 45.3, signaling it's trading neither in the overbought or oversold zone. Coforge stock trades higher than the 5-day, 10 day, 100 day , 150 day , 200 day but lower than the 20-day, 30 day and 50-day moving averages.

The IT stock has gained 30.71% in one year and risen 27% since the beginning of this year. The stock has delivered multibagger returns of 128% and 320% in three and five years, respectively.

Market cap of the firm rose to Rs 30,954 crore. Total 2890 shares changed hands amounting to a turnover of Rs 1.45 crore on BSE.

Coforge Limited is an India-based information technology (IT) solution company. It is engaged in the in-application development and maintenance, managed services, cloud computing and business process outsourcing. The Company provides computer programming consultancy and related activities. Its geographical segments include Americas, Europe, Middle East and Africa (EMEA), Asia Pacific (APAC), and India.

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