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The Economic Times
The Economic Times
Veer Sharma

Coforge shares fall over 3%. What are Jefferies, Emkay saying after Chairman, independent director exit?

Coforge Jefferies Emkay DK Singh OP Bhatt NRC Veer Sharma Vivek Sharma Board Egon Zehnder

Shares of Coforge fell more than 3% to Rs 1,784 on the BSE on Tuesday after independent director and NRC chairperson DK Singh resigned on Friday, days after chairman OP Bhatt stepped down. At an investor call on Monday, the company reiterated its FY27 financial guidance and said the recent board developments had not changed its strategy or priorities.

Coforge continues to target a consolidated EBITDA margin of 20.5%-21%, an EBIT margin of at least 15.5% and free-cash-flow conversion of above 100% of PAT for FY27. It has also retained its $5 billion four-year target.

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