{
}
Morgan Stanley advises against buying dips in Indian IT services stocks, citing a challenging macroeconomic environment and potential revenue growth delays. The firm forecasts disappointing fiscal year 2026 revenue for major IT companies, with weak fourth-quarter trends expected. It prefers Tata Consultancy Services over Infosys and Tech Mahindra over HCL Technologies, emphasizing the need for caution amid ongoing economic uncertainties.
Morgan Stanley has updated its India focus list, adding IT firm Coforge and airline operator Interglobe Aviation while removing Infosys and Mahindra & Mahindra. The brokerage highlights Coforge's growth potential due to large-deal momentum and a favorable entry point after recent underperformance. Interglobe's increasing market share in India's rapidly growing aviation sector is expected to boost earnings through fiscal years 2025-2027.
The healthcare provider network management market is projected to grow from $4.03 billion in 2023 to $8.61 billion by 2028, driven by factors such as an increasing geriatric population, technological advancements, and the shift towards value-based care. Key players include UnitedHealth Group, CVS Health, and Cigna, among others. The market is characterized by trends like telehealth integration and a focus on cybersecurity, highlighting the need for effective network management to meet evolving healthcare demands.
Coforge reported a revenue of $369.4 million, marking a 26.8% quarter-on-quarter and 32.8% year-on-year increase, with organic revenue at $309.8 million. The adjusted EBITDA margin fell to 16.6% due to wage hikes, while the executable order book surged to $1.3 billion, a 40% year-on-year rise. Sharekhan maintains a BUY rating with a revised target price of Rs 8,900, reflecting strong growth potential.
Coforge's stock has surged approximately 22% this year, outperforming the Nifty's 12% return, following strong Q2 results for the quarter ending September 30, 2024. Analysts have responded positively, with Nomura maintaining a 'buy' rating and setting a target price of Rs 8,480, while HSBC raised its target to Rs 8,200, citing robust revenue and margin outlooks. The company's solid order book and headcount growth bolster confidence in its future performance.
Analysts are cautious about Hindustan Unilever (HUL), with JPMorgan maintaining an overweight call but cutting the target to ₹2,870 due to slowing urban demand and a slight miss on volume growth. Morgan Stanley holds an underweight stance, setting a target of ₹2,110, citing weak volume growth and ongoing challenges in personal care and food & refreshment categories.
Coforge shares surged nearly 8% following a strong Q2 earnings report, with net profit rising 9% quarter-on-quarter to Rs 255.20 crore and revenue increasing 27.5% to Rs 3,062 crore. The company also achieved a total order intake of $516 million, marking its eleventh consecutive quarter above $300 million.
Coforge reported a 17% increase in net profit to Rs 212 crore for Q2FY25, with revenue rising 34% to Rs 3,062 crore. The company achieved an order intake of $516 million, maintaining a steady order book of $1.3 billion, and added 13 clients while reducing attrition to 11.7%. Headcount grew to 32,483, including 4,430 from the recent acquisition of Cigniti.
Coforge Limited
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Morgan Stanley advises caution on Indian IT services amid economic challenges
02:34 01.04.2025
Morgan Stanley updates India focus list adding Coforge and Indigo
06:56 17.03.2025
healthcare provider network management market poised for significant growth by 2028
Apple Inc.
UnitedHealth Group Incorporated
CVS Health Corporation
McKesson Corporation
Cigna Corporation
Centene Corporation
Anthem Inc.
Humana Inc.
Aetna Inc.
Salesforce Inc
Cognizant
Infosys Limited
Atos SE
RELX PLC
Change Healthcare Technologies Corporation
Virtusa Corporation
Genpact Limited
Mphasis Limited
Evolent Health Inc
Coforge Limited
B. Braun Melsungen AG
Becton Dickinson and Company
Show more
09:36 02.12.2024
Coforge reports strong revenue growth and maintains buy rating with target price
09:17 25.10.2024
Coforge shares surge as analysts raise price targets after strong Q2 results
04:38 24.10.2024
analysts cautious on hul while cofoge sees target upgrades
04:13 24.10.2024
Coforge shares rise 8 percent on strong Q2 earnings and order growth
06:27 23.10.2024
coforge reports 17 percent profit rise and 34 percent revenue growth in q2
03:23 23.10.2024
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Finance Mergers & Acquisitions
Global Financial Events
Market Analysis and Predictions
Industry Mergers & Acquisitions
Banking Regulations
Financial Scams and Security
Retail and Consumer Goods
CEO Changes
Global Trade Developments
Central Bank Actions
Supply Chain Management
Startups & Entrepreneurship
Government Policies
Energy Sector Developments
AI Innovations
Government Economic Policies
Hedge Funds & Private Equity
Countries:
Companies:
Barclays PLC
Tesla, Inc.
JPMorgan Chase & Co.
Bank of America Corporation
The Goldman Sachs Group, Inc.
NVIDIA Corporation
Wells Fargo & Company
Apple Inc.
UniCredit S.p.A.
UBS Group AG
Amazon.com, Inc.
Banco BPM S.p.A.
Credit Suisse Real Estate Fund Siat
Citigroup Inc.
Deutsche Bank RV Global PP
Google Inc.
Morgan Stanley
BNP Paribas SA
ING Groep N.V.
Capital One Financial Corporation
Currencies:
United States Dollar
Euro
Indian Rupee
Swiss Franc
Chinese Yuan
British Pound Sterling
Japanese Yen
Danish Krone
Hong Kong Dollar
Australian Dollar
United Arab Emirates Dirham
Swedish Krona
Singapore Dollar
South Korean Won
Canadian Dollar
Russian Ruble
Vietnamese Đồng
Malaysian Ringgit
Offshore Chinese Yuan
Kuwaiti Dinar
People: