Shares of Coforge Ltd dropped sharply on Friday, falling 6.37% to ₹6,701.55, down ₹455.85 from the previous close of ₹7,157.40. The stock touched an intraday low of ₹6,623, continuing its four-session losing streak.
The decline comes a day after US President Donald Trump’s announcement of reciprocal tariffs on imports from 60 countries, including India, which triggered a sell-off in IT stocks. The Nifty IT index remained the top sectoral loser for a second straight session. Midcap IT firms like Coforge, Persistent Systems, and KPIT Tech bore the brunt of investor concerns over US exposure and revenue headwinds.
Additionally, Coforge announced on Friday that it has acquired 100% stake in Rythmos Inc. through its wholly owned subsidiary. While the acquisition is expected to enhance domain capabilities, the market reacted with caution amid broader sectoral pressures.
Coforge’s current market capitalization stands at ₹448.89 billion, and the stock trades at a P/E ratio of 56.41, with a dividend yield of 1.13%.
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