Shares of IT major Coforge Ltd zoomed 11% in early deals today after the IT major reported  strong Q4 earnings. Q4 Revenue and EBITDA margins beat expectations. Brokerage Motilal Oswal assigned a 54% upside to the Coforge stock with a price target of Rs 1800. 

Coforge shares rose 10.77% to Rs 1294.15 today against the previous close of Rs 1168.30. Market cap of the firm rose to Rs 42,562 crore 

Shares of Cigniti Technologies, which recently merged into Coforge too surged 12% to Rs 1298.70 today against the previous close of Rs 1160.70. The board of the firm has has fixed May 16, 2026, as the official Record Date. This date is critical for determining the eligibility of current Cigniti shareholders for the transition into the consolidated entity.

Shareholders of Cigniti, as of the designated date, will be eligible to receive equity shares of Coforge in a 1:1 share swap ratio. 

Cigniti also cancelled its board meeting on May 5 for the announcement of its results following its merger. 

"Coforge reported a strong Q4 revenue growth of 2% QoQ in constant currency (CC) terms, above our estimate of 1.5% QoQ CC," said MOFSL. 

"The company reported an order intake of USD 648m (down 69.5% YoY) in 4Q with five large deals, resulting in a robust 12-month executable order book of $1.75 bn. EBIT margin stood at 16.6%, above our estimate of 15% adjusted," said the brokerage. 

The IT firm reported a 144.8% rise in Q4 profit. Net profit rose to Rs 612.3 crore on a quarter on quarter basis from Rs 250.2 crore in the December 2025 quarter. On a year on year basis, profit rose 134% from Rs 261.2 crore profit a year ago. Revenue rose 5.2% to Rs 4450.4 crore in Q4 against Rs 4231.5 crore in Q3 of the last fiscal. It climbed 30% on a year on year basis. 

EBITDA rose 18.5% to Rs 916.8 crore in Q4 against Rs 773.6 crore on quarter on quarter basis.