• Source:JND
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Coforge share price surged over 6% in the early hours on Wednesday after the company announced that its board has approved the proposal of stock split. Conforge will divide its current equity shares carrying a face value of Rs 10 into five equity shares, means Rs 2 face value for each.

At around 9:32 am, Conforge shares were trading at 7,713.55, up 6.95% on NSE.

This is the first, Conforge has announced any stock split. The company said in an exchange filing that the stock split is subject to the approval of the company's shareholders, and the record date for the same will be announced soon.

Additionally, Coforge has announced the acquisition of 100% stake in Rithmos Transactions, a US-based IT services company, for an upfront cash consideration of $30 million and additional payments in two tranches, contingent on the achievement of certain milestones.

Coforge shares closed 1.9% lower at Rs 7,215 on Tuesday. Following today's gain, its one month decline narrowed below 5%. Meanwhile, the 52 week high and low values of the stock stood at Rs 10,026.80 and Rs 4,287.25 respectively.

Share Market Today

The domestic stock indices started today's trade in green and rallied significantly amid buying in bluechip stocks like Reliance, HDFC Bank, TCS, Bharati Airtel and others. At around 9:50 am, the NSE's Nifty50 were trading over 22,250, surging 0.77 percent, while BSE's Sensex was up 525 points and was trading over the 73,500 level.

This is a developing story..