Coforge shares staged a sharp intraday recovery on Monday, rebounding nearly 9 percent from the day's low to trade over 3 percent higher, reversing steep losses seen in early trade. The turnaround came as several brokerages maintained bullish ratings following the IT services company's fiscal second quarter results, citing strong deal wins, an expanding order book and improving margins.
Coforge stock was trading at Rs 1,970 in afternoon trade, up 3.6 percent, making it one of the top midcap gainers. The stock has gained 18.4 percent so far in 2026, outperforming the Nifty 50, which has declined 13.5 percent. The company's market capitalisation stood at approximately Rs 86,900 crore.
While second-quarter revenue missed expectations, stronger margins and improved profitability guidance supported the brokerage outlook. UBS, Nomura and Jefferies maintained Buy ratings, while Citi retained its Sell recommendation.
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UBS maintained its Buy rating with a target price of Rs 2,460, implying an upside of more than 29 from Friday’s closing price. The brokerage said revenue growth was broadly in line with expectations, while margins were slightly better.