Shares of Coforge shine on launching Coforge Quasar a Gen AI platform

Coforge has launched Quasar, a fully-governed Gen AI Platform that helps businesses build enterprise AI capabilities. Coforge Quasar comes pre-loaded with a comprehensive set of 100+ APIs, readily available for integration. Featuring a modular and scalable architecture, Quasar boasts an array of 100+ pre-built cognitive and generative use cases, facilitating the creation of out-of-the-box solutions.

The platform operates on a fully governed framework, incorporating Process Governance, API Governance, and Model Governance (MLOps) within its foundation. Enterprises can choose a cloud-based setup or an on-premise setup with enhanced security and controls.

Coforge (Formerly known as NIIT Technologies) is a leading global IT solutions organization, enabling its clients to transform at the intersection of unparalleled domain expertise and emerging technologies to achieve real-world business impact.

Coforge Limited experienced sustained, robust, and profitable growth in Q1FY 24, with a 2.7% QoQ and 18.4% YoY growth. This growth was driven by large BFS deals and a record quarterly order intake of USD 531 million. With a strong order executable of USD 897 million, Coforge is well-positioned to meet its annual revenue guidance of 13% to 16% CC growth.

The company is focusing on building AI capabilities, with over 100 solutions deployed in areas like NLP, machine learning, and deep learning. Despite uncertain banking sector demand, Coforge sees growth opportunities in retail, commercial, and asset wealth management segments.

Coforge is currently trading at Rs 5029.95, up by 118.35 points or 2.14% from its previous closing of Rs 4911.60 on the BSE. The scrip opened at Rs 4790.00 and has touched a high and low of Rs 5090, and Rs 4710, respectively. So far 328240 shares were traded on the counter.

The BSE group ‘A’ stock of face value of Rs 10 has touched a 52-week high of Rs 5420 and a 52-week low of Rs 3210. Last one week high and low of the scrip stood at Rs 5090 and Rs 4710 respectively. The current market cap of the company is Rs 30,013.44 crore. The promoters’ holding in the company stood at 26.63%, while Institutions and Non-Institutions held 61.98% and 11.39%, respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.

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