Niit Technologies News Today

​​Coforge also announced acquisition of Cigniti Tech (CIGN IN; NR), an assurance (testing) company. Management believes Cigniti complements Coforges 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.

The consolidated revenue for Q3FY24 was up 13% yoy to Rs 2,323.3 crore as compared with Rs 2,055.8 crore and up 2.2% quarter-on-quarter (qoq) from Rs 2,272.2 crore.

The number of deals also saw a significant 66% increase, totalling 340 in CY23 compared to 205 in CY22. Notably, block deals took precedence, contributing to the substantial rise by generating over $20 billion through several large deals.

Mutual funds are one of the popular ways of investment among retail investors in India. There are three main categories of mutual funds available in the Indian market. Largecap Funds, Midcap Funds, and Smallcap Funds are the most popular funds.

Midcap funds are mutual funds that invest on companies with a market capitalisation in the middle range of listed stocks. The funds are more stable than the smallcap funds but tend to offer lesser returns. As per Association of Mutual Funds in India (AMFI) data for July, midcap funds saw healthy inflows of Rs 2,512.34 crore, increasing from Rs 1,623.33 crore in July 2023. Heres a quick comparison between Motilal Oswal Midcap Fund and Canara Robeco Mid Cap Fund

Earlier in May, Hulst BV had sold 3.5% stake in Coforge through the open market for Rs 887 crore. The private equity firm has been offloading stake in tranches in the company over the last 2-3 years

Under the block deal, Hulst BV will offload 1.62 crore shares and the deal value is estimated around Rs 7,400 crore. Hulst BV is owned by private equity firm Baring PE

Baring Private Equity Asia-EQT (BPEA-EQT) announced two headline transactions in as many months. In June, it teamed up with Chrys Capital to buy 90% of Credila, the education loan arm of HDFC Ltd, for $1.1 billion--the largest-ever private equity (PE) buyout in India in the financial services sector.

Coforge Limited (NSE: COFORGE), formerly NIIT Technologies, and TalentSprint, India’s leading edtech company from the NSE Group, have announced a fast-track, placement-linked Summer School to transform new engineering graduates into Business Process Automation and Low-Code Platform professionals.

IT firm Coforge raises Rs 340 cr via non-convertible bonds File photo IT firm Coforge Ltd, formerly NIIT Technologies, said on Tuesday it has raised Rs 340 crore through issuance of non-convertible bonds on private placement basis. "The board of directors of the company has approved allotment of up to 3,400 unsecured, listed, rated, redeemable non-convertible bonds of Rs 10,00,000 each aggregating up to Rs 340 crore to identified investors on a private placement basis," Coforge said in a regula...