Coforge share price hits a record high, jupms over 100% in seven months; should you buy the stock? | Stock Market News

Coforge share price jumped almost 4 per cent to hit its record high of ₹9,349.45 in intraday trade on the BSE on Thursday, December 12, in an otherwise weak market. Coforge share price opened at ₹9,100 against its previous close of ₹8,999.80 and jumped 3.9 per cent to an all-time high of ₹9349.45. Around 1:20 PM, the stock traded 2.42 per cent higher at ₹9,217.65 apiece. Equity benchmark Sensex was 0.25 per cent down at 81,321 at that time.

Coforge share price trend

The large-cap IT stock has seen solid gains this year so far. It hit a 52-week low of ₹4,291.05 on May 9 this year and has been in the green since June this year, on a monthly scale.

Considering today’s high, it has surged 118 per cent from its 52-week low level in a little over seven months.

Over the last year, the stock has jumped nearly 60 per cent.

Coforge news

In an exchange filing on December 10, Coforge announced a partnership with ACORD Solutions Group. The company said the partner (LIP) program. This partnership will drive automated submissions placing, accounting, and claims data exchange across its global broker, insurer, and reinsurer clients.

“At Coforge, we have established strategic partnerships with leading core platform providers. These alliances have positioned us as market leaders in driving core transformation for our insurance clients. Our partnership with ACORD Solutions Group signals a significant step forward in developing connected enterprise solutions that are not only industry-leading but also future-ready,” said Rajeev Batra, EVP & Head Insurance, Coforge.

The stock rose about a per cent on December 10. However, in the next session on December 11, it slipped by 0.07 per cent on profit booking.

More to come…