Coforge shares trade firm after promoter sells 6.3% stake

On October 26, 2020, Hulst B.V, the promoter of Coforge, offloaded 3.8 million equity shares, representing 6.3 per cent stake, for Rs 878 crore on the NSE, the bulk deal data shows.

Shares of Coforge moved higher by 2 per cent to Rs 2,267, bouncing back 4 per cent from the intra-day low on the National Stock Exchange (NSE) on Tuesday after promoters of the company sold 6.3 per cent equity stake at Rs 2,310 per share on Monday via open market.

The stock of information technology (IT) consulting and software company was down 1.4 per cent to Rs 2,178 in the early morning trade. In the past week, it underperformed the market by falling 15 per cent, as compared to a marginal 0.1 per cent gain in the Nifty50 index