Coforge Ltd slips for fifth straight session

Coforge Ltd dropped for a fifth straight session today. The stock is quoting at Rs 6121.2, down 2.62% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.98% on the day, quoting at 24766.8. The Sensex is at 81090.89, down 0.95%.Coforge Ltd has added around 7.75% in last one month.Meanwhile, Nifty IT index of which Coforge Ltd is a constituent, has increased around 7.07% in last one month and is currently quoting at 40709.4, down 1.86% on the day. The volume in the stock stood at 1.65 lakh shares today, compared to the daily average of 6.3 lakh shares in last one month.

The benchmark August futures contract for the stock is quoting at Rs 6138.55, down 2.67% on the day. Coforge Ltd jumped 28.45% in last one year as compared to a 27.78% rally in NIFTY and a 33.3% spurt in the Nifty IT index.

The PE of the stock is 48.64 based on TTM earnings ending June 24.