Coforge Share Price: Nifty IT Index Recovers as Tariff Pause Brings Relief

Market Performance

The Nifty IT index experienced a modest rebound on April 11, rising approximately 1.3% during early trading. This uptick comes after a significant decline of over 10% between April 2 and April 9, triggered by global market concerns. The temporary suspension of tariffs by the United States contributed to easing fears around delayed IT budgets and a potential recession in the US economy.

Main News

On April 9, the US administration's 90-day suspension of new tariffs helped ease recent business uncertainties. The announcement followed earlier moves to impose reciprocal tariffs on trading partners, including a 26% tariff on Indian exports to the US. This development was seen as a factor contributing to the sharp sell-off in global and Indian markets earlier in the month.

Following the tariff pause, Indian IT stocks witnessed renewed investor interest. Coforge shares recorded the most substantial early gains on April 11, climbing nearly 4% to trade at ₹6,571 per share. LTIMindtree, Mphasis, and Wipro also saw notable increases, each rising by more than 2%. Infosys, HCL Technologies, and Persistent Systems registered similar gains of around 2%.

In contrast, Tata Consultancy Services (TCS) shares showed a marginal decline, trading at ₹3,215 apiece during the session. The dip followed the company's recent earnings report.

Company Details

Tata Consultancy Services (TCS) - Q4 FY25 Financials

• Net Profits: ₹12,224 crore
• This represents a nearly 2% decline compared to Q4 FY24.

Summary

The IT sector, which has faced significant headwinds due to its reliance on the US market, showed signs of recovery following a 90-day pause on new US tariffs. Coforge led the rebound among Nifty IT stocks, with other major companies like Wipro and Infosys also experiencing gains. Meanwhile, TCS reported a slight dip in quarterly profits, resulting in a mild decline in its share price. The tariff-related relief has provided a temporary cushion for the sector amidst broader global uncertainties.