External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Business Vertical Outlook: Management expects a shift in vertical momentum heading into FY27, with Banking potentially reclaiming the top spot for growth among core verticals, while emerging verticals such as Healthcare and High-tech are projected to continue their rapid expansion.</li><li>Deal Wins/Pipeline: Total order intake stood at $593 Mn during the quarter, with six large deals signed across North America, Europe, and APAC.</li><li>The executable order book for the next 12 months rose 30.4% YoY to $1.72 Bn, reflecting strong revenue visibility.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Business Vertical Outlook: Management expects a shift in vertical momentum heading into FY27, with Banking potentially reclaiming the top spot for growth among core verticals, while emerging verticals such as Healthcare and High-tech are projected to continue their rapid expansion.Deal Wins/Pipeline: Total order intake stood at $593 Mn during the quarter, with six large deals signed across North America, Europe, and APAC.The executable order book for the next 12 months rose 30.4% YoY to $1.72 Bn, reflecting strong revenue visibility.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coforge Ltd. - Soft Quarter; Profitability Outlook Remains Intact

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/coforge-ltd" target="_blank" data-smartkarma-citation="entities:8639:1" rel="noopener">Coforge (COFORGE IN)</a> ’s stock fell 9.5% in five sessions as investors reacted to the massive equity dilution triggered by the board's approval to acquire Encora. </li>
<li>The $2.35 billion all-stock deal aims to create a scaled AI-led engineering powerhouse, significantly expanding Coforge’s presence in LATAM and the US. </li>
<li>While massive share issuance creates a short-term headwind, the acquisition is structurally accretive, targeting$2.5 billion in revenue without diluting consolidated earnings.</li>
</ul>



Coforge (COFORGE IN) ’s stock fell 9.5% in five sessions as investors reacted to the massive equity dilution triggered by the board's approval to acquire Encora. 
The $2.35 billion all-stock deal aims to create a scaled AI-led engineering powerhouse, significantly expanding Coforge’s presence in LATAM and the US. 
While massive share issuance creates a short-term headwind, the acquisition is structurally accretive, targeting$2.5 billion in revenue without diluting consolidated earnings.


Event Driven: Coforge Acquisition ~ The Fall Analysis

<ul><li>Coforge’s management hosted an investor and analyst meet where the CEO &amp; Executive Director, Mr Sudhir Singh, and his management team presented business progress and medium to long-term priorities.</li><li>The company highlighted its competitive positioning, strategic focus area, operational improvements, and market presence.</li><li>The event’s central theme focused on partnerships, core AI integration through its platforms, emerging revenue verticals, and an increasing footprint in untapped regions. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coforge’s management hosted an investor and analyst meet where the CEO &amp; Executive Director, Mr Sudhir Singh, and his management team presented business progress and medium to long-term priorities.The company highlighted its competitive positioning, strategic focus area, operational improvements, and market presence.The event’s central theme focused on partnerships, core AI integration through its platforms, emerging revenue verticals, and an increasing footprint in untapped regions. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Company Update: Coforge Ltd - 9 Th December, 2025

<ul><li>Growth in Emerging verticals: Apart from major verticals, two emerging verticals from other divisions are showing growth, i.e, Healthcare, anticipated to approach a $100 Mn revenue run rate by the end of the year.</li><li>Moreover, the Public Sector (outside India) has already surpassed a $150 Mn run rate and is on a path toward $200 Mn.</li><li>Deal Wins/Pipeline: The total order intake during the quarter stood at $514 Mn. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Growth in Emerging verticals: Apart from major verticals, two emerging verticals from other divisions are showing growth, i.e, Healthcare, anticipated to approach a $100 Mn revenue run rate by the end of the year.Moreover, the Public Sector (outside India) has already surpassed a $150 Mn run rate and is on a path toward $200 Mn.Deal Wins/Pipeline: The total order intake during the quarter stood at $514 Mn. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coforge Ltd - Beat Across All Fronts; Strong Revenue Visibility

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Thematic (Sector/Industry)

<ul>
<li>The Indian Rupee’s decline to 95 per dollar is driven by a widening trade deficit, surging crude oil prices, and persistent foreign capital outflows</li>
<li>This depreciation triggers imported inflation across the economy, a substantial 3.7% to 5.2% EPS boost for top-tier IT services exporters.</li>
<li>Global exporters like <a href="https://www.smartkarma.com/entities/coforge-ltd" target="_blank" data-smartkarma-citation="entities:8639:1" rel="noopener">Coforge (COFORGE IN)</a> and <a href="https://www.smartkarma.com/entities/sagility-india-limited" target="_blank" data-smartkarma-citation="entities:43717:1" rel="noopener">Sagility India (SAGILITY IN)</a> emerge as primary beneficiaries, whereas import-dependent sectors like Aviation and Paints face severe and immediate margin contraction.</li>
</ul>


The Indian Rupee’s decline to 95 per dollar is driven by a widening trade deficit, surging crude oil prices, and persistent foreign capital outflows
This depreciation triggers imported inflation across the economy, a substantial 3.7% to 5.2% EPS boost for top-tier IT services exporters.
Global exporters like Coforge (COFORGE IN) and Sagility India (SAGILITY IN) emerge as primary beneficiaries, whereas import-dependent sectors like Aviation and Paints face severe and immediate margin contraction.


The Rupee at 95/$: Sectoral Winners and Losers

India

Coforge Limited is an Indian multinational information technology company specializing in digital transformation, consulting, and IT services. It provides solutions in areas such as artificial intelligence, cloud, data, and automation to industries including banking, financial services, insurance, travel, and healthcare. The company is headquartered in Noida, Uttar Pradesh, India, and was founded in 1992.

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Coforge (COFORGE IN)

Coforge Ltd. - Soft Quarter; Profitability Outlook Remains Intact

Management expects a shift in vertical momentum heading into FY27, with Banking potentially reclaiming the top spot for growth among core verticals...

Axis Direct

Event Driven: Coforge Acquisition ~ The Fall Analysis

Investors react to Coforge's stock falling 9.5% in 5 sessions due to equity dilution from approving Encora acquisition, aiming to create AI-led...

Nimish Maheshwari

Company Update: Coforge Ltd - 9 Th December, 2025

The company highlighted its competitive positioning, strategic focus area, operational improvements, and market presence. The event’s central theme...

Axis Direct

Coforge Ltd - Beat Across All Fronts; Strong Revenue Visibility

Apart from major verticals, two emerging verticals from other divisions are showing growth, i.e, Healthcare, anticipated to approach a $100 Mn...

Axis Direct

The Rupee at 95/$: Sectoral Winners and Losers

Indian Rupee's decline to 95 per dollar due to trade deficit, oil prices, and capital outflows leads to imported inflation but boosts EPS for IT...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Coforge Ltd. - Soft Quarter; Profitability Outlook Remains Intact

Management expects a shift in vertical momentum heading into FY27, with Banking potentially reclaiming the top spot for growth among core verticals...

Axis Direct

Event Driven: Coforge Acquisition ~ The Fall Analysis

​Investors react to Coforge's stock falling 9.5% in 5 sessions due to equity dilution from approving Encora acquisition, aiming to create AI-led...

Nimish Maheshwari

Company Update: Coforge Ltd - 9 Th December, 2025

The company highlighted its competitive positioning, strategic focus area, operational improvements, and market presence. The event’s central theme...

Axis Direct

Coforge Ltd - Beat Across All Fronts; Strong Revenue Visibility

Apart from major verticals, two emerging verticals from other divisions are showing growth, i.e, Healthcare, anticipated to approach a $100 Mn...

Axis Direct

The Rupee at 95/$: Sectoral Winners and Losers

​Indian Rupee's decline to 95 per dollar due to trade deficit, oil prices, and capital outflows leads to imported inflation but boosts EPS for IT...

Sudarshan Bhandari

Investors react to Coforge's stock falling 9.5% in 5 sessions due to equity dilution from approving Encora acquisition, aiming to create AI-led...

Indian Rupee's decline to 95 per dollar due to trade deficit, oil prices, and capital outflows leads to imported inflation but boosts EPS for IT...