Coforge Share Price Target: Major IT stock Coforge shares dropped by almost 9 per cent during Thursday morning’s trading session, despite the IT firm reporting strong financial performance for the first quarter of FY26.

On Thursday, the large-cap IT stock fell as much as 8.92 per cent, hitting an intraday low of Rs 1,684 in the early hours of trading.

Despite a robust one-year rally of over 34.27 per cent, the stock has declined more than 8 per cent over the past six months, reflecting recent volatility in the mid-cap IT space.

Q1FY26 results

The Noida-headquartered firm on Wednesday reported a net profit of Rs 317 crore for the quarter ended June 2025, marking a 21.5 per cent increase quarter-on-quarter (QoQ) and a 138.4 per cent jump year-on-year (YoY).

Revenue for the quarter stood at Rs 3,689 crore, up 56.5 per cent YoY. The EBITDA margin improved to 17.5 per cent, rising by 61 basis points QoQ.

Payout for shareholders; record date announced

Along with the results, the IT firm declared an interim dividend of Rs 4 per share for FY26. The record date is set for July 31, determining the shareholders eligible for the payout.

(This story will be updated shorlty.)