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Coforge Share Price: Shares of Coforge, which was earlier known as NIIT Technologies, fell nearly 10% on Friday to the day's low of Rs 4,505 on BSE after the IT company reported weak Q4 results in which both revenue and margin missed estimates.
The IT player also stated that it had signed a definitive agreement to take over Cigniti Technologies, an AI & IP-led digital assurance and engineering services company.
Lack of revenue guidance and delay in extracting cross-sell synergies from the Cigniti deal amid tough market conditions have prompted analysts to lower their earnings estimates for Coforge
The acquisition process is expected to get completed by Q2FY25.
In Wednesdays trading session, the following five stocks witnessed a build of fresh long positions. Let us first understand how this conclusion is reached, whether the stock has seen a buildup of fresh long position or not.