Posts in category Economic Times
Buy Coforge, target price Rs 1,500: JM Financial (03-05-2024)
Coforge also announced acquisition of Cigniti Tech (CIGN IN; NR), an assurance (testing) company. Management believes Cigniti complements Coforge’s 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.
Buy Coforge, target price Rs 1,500: JM Financial (03-05-2024)
Coforge also announced acquisition of Cigniti Tech (CIGN IN; NR), an assurance (testing) company. Management believes Cigniti complements Coforge’s 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.
Sattrix Information files DRHP for Rs 20 cr SME IPO, targeting mid-May listing (03-05-2024)
IT and cyber security solutions provider Sattrix Information Security has filed its draft red herring prospectus (DRHP) with the BSE SME for an IPO. The issue is completely a fresh equity sale of 18 lakh shares and through it, the company plans to raise around Rs 20 crore.
Sattrix Information files DRHP for Rs 20 cr SME IPO, targeting mid-May listing (03-05-2024)
IT and cyber security solutions provider Sattrix Information Security has filed its draft red herring prospectus (DRHP) with the BSE SME for an IPO. The issue is completely a fresh equity sale of 18 lakh shares and through it, the company plans to raise around Rs 20 crore.
Coforge’s Cigniti acquisition a game-changer, will be EPS accretive from day one, says CEO Sudhir Singh (03-05-2024)
Sudhir Singh of Coforge outlines the strategic benefits of acquiring Cigniti, focusing on revenue growth, market expansion, and confidence in successful integration based on past acquisition achievements and team capabilities. Singh says: "Our intent is to raise roughly about $250 million and we will acquire between 51% and 54% of the promoter stake through a QIP."
Coforge’s Cigniti acquisition a game-changer, will be EPS accretive from day one, says CEO Sudhir Singh (03-05-2024)
Sudhir Singh of Coforge outlines the strategic benefits of acquiring Cigniti, focusing on revenue growth, market expansion, and confidence in successful integration based on past acquisition achievements and team capabilities. Singh says: "Our intent is to raise roughly about $250 million and we will acquire between 51% and 54% of the promoter stake through a QIP."
Share price of Trent falls as Sensex drops 1016.28 points (03-05-2024)
Promoters held 37.01 per cent stake in the company as of 31-Mar-2024, while FII and DII ownership stood at 26.8 per cent and 8.72 per cent, respectively.
Investors lose Rs 4 lakh crore as Sensex melts 1,100 pts. Key factors behind today’s bloodbath (03-05-2024)
Selling pressure from RIL and HDFC Bank led to a major crash in Indian indices. Market capitalisation decreased by Rs 4.25 lakh crore. India VIX surged due to increasing volatility and concerns over Q4 earnings, election season, and US Fed rate cut.
India’s crypto regulations can do with a HODL strategy (03-05-2024)
As the global crypto asset market progresses, India finds itself at a pivotal juncture. There’s an opportunity to chart a course that delicately balances innovation in this nascent but super exciting sector, together with risk management, while drawing invaluable insights from the regulatory experiences of other nations.
Federal Bank shares drop 1.93% as Sensex falls (03-05-2024)
A total of 1,348,415 shares changed hands on the counter till 02:05PM (IST)