Coforge shares gained nearly 2% in Tuesday's trading session, rising 2% to ₹1,813.80 per share on the NSE following the announcement of Akhil Kumar Gupta's appointment as Chairperson and Non-Executive Independent Director. According to Moneycontrol, the stock opened at ₹1,784 against the previous close of ₹1,773, then moved up to a high of ₹1,801.4 before trading at ₹1,786 around 9:42 a.m. The positive market response came alongside JPMorgan's 'overweight' rating with a target price of ₹1,850 per share, implying an upside of more than 4% from the previous session's closing level. The IT stock has been under pressure for over a month, losing around 11.4% but remains up around 15% over the past year.
Coforge Ltd has appointed Akhil Kumar Gupta as a Non-Executive Independent Director and Chairperson of the company, marking a key change in the IT services firm's board leadership. According to reports from PTI, CNBC TV18, Mint, India Business News, Moneycontrol, ET Now, Business Standard, and The Economic Times, Gupta's appointment will be effective immediately for a period of five years. The appointment comes weeks after Coforge faced significant changes at the top of its board, including the resignation of former Chairman O P Bhatt and independent director and Nomination and Remuneration Committee (NRC) Chairperson D K Singh. The Board approved the appointment on September 28, 2026, following a recommendation from the Nomination and Remuneration Committee, with the move subject to shareholder approval. As per ET Now, the leadership changes began after former chairman and veteran banker O P Bhatt resigned on September 9, his exit following an internal audit that found he had withheld a board evaluation report in which his own performance category had received the lowest rating.
Gupta brings exceptional credentials to his new role, having served as the former Vice Chairman of Bharti Enterprises and being associated with the growth of the Bharti group from its early years. As reported by PTI, CNBC TV18, Mint, India Business News, Moneycontrol, ET Now, Business Standard, and The Economic Times, he currently serves as Chairman of the Board of Directors of 360 ONE WAM Ltd and Bharti Life Insurance Ltd. His professional experience spans more than 40 years as a Chartered Accountant, and he completed the Advanced Management Program at Harvard Business School in 2002. Gupta has received multiple awards including the EY Entrepreneur of the Year Award, Chartered Accountant Lifetime Achievement Award, and Chartered Accountant Global Achiever Award from the Institute of Chartered Accountants of India (ICAI). He is also the author of Some Sizes Fit All, a management book published by Penguin Random House. Additionally, Gupta serves on the boards of Zepto, Snapdeal, Eutelsat Communications and Lodha Developers, with his professional affiliations including serving as President of TSSC (Telecom Sector Skill Council), Ex-Chairman of DIPA (Digital Infrastructure Providers Association), and membership in CII National Committee on Telecom & Broadband. His industry and governance experience extends to serving on the Advisory Committee on Service Providers of the Insolvency and Bankruptcy Board of India and the Sub Committee of the Insolvency Law Committee, Government of India.
According to PTI, Gupta's appointment comes at a time when Coforge is sharpening its focus on artificial intelligence and enterprise transformation. Sudhir Singh, CEO and Executive Director of Coforge, stated that as the industry navigates the AI-led era and Coforge pivots towards making AI real for enterprises, they welcome Gupta's expertise. The company has been expanding its AI capabilities, having launched its AI Launchpad in September, aimed at helping enterprises build, fine-tune, deploy and operate AI stacks within their own controlled environments. Singh highlighted Gupta's instrumental role at Bharti Enterprises, stating he was "instrumental in Bharti Enterprises successfully navigating multiple business shifts during his watch and association with Bharti Enterprises." Singh noted the importance of having such governance experience as the firm addresses the AI era, with Gupta's extensive telecom and infrastructure background specifically shaping Coforge's strategy in the AI-led engineering services market.
JPMorgan has given an 'overweight' rating to Coforge with a target price of ₹1,850 per share, implying an upside of more than 4% from the closing level of the previous session. As reported by Moneycontrol, JPMorgan noted that Coforge's board has been able to fill the chairperson's position earlier than expected and could likely appoint another board member within its guided three-month timeframe. Following the appointment of the chairperson and a likely subsequent independent director, the focus is expected to shift back to the company's core performance, AI traction, Encora integration and its five-year goals. The brokerage's positive rating reflects confidence in the company's leadership transition and strategic direction under Gupta's guidance.
Coforge delivered exceptional Q1 FY27 results with a 110% year-on-year surge in profit after tax (PAT) to ₹518.6 crore in the April-June quarter. In US dollar terms, PAT stood at $55.6 million, up 46% YoY. The firm recorded revenue of ₹5,527.7 crore in rupee terms during the quarter, marking a 49% YoY increase. In US dollar terms, revenue stood at $592.2 million, up 33% YoY. The strong financial performance comes as the company navigates the AI-led transformation in the IT services sector. At around 10:27 AM, the stock was trading 0.42% higher at ₹1,780.40 per equity share, showing continued positive momentum following the leadership announcement.
Coforge shares have shown mixed performance with recent volatility reflecting market sentiment around leadership changes. The stock has fallen more than 1% in the past week and 12% over the month, but remains up 7% on a year-to-date basis. While the shares hit a 52-week high of ₹2,021.20 on August 31, 2026, they touched a year's low of ₹1,081.00 on March 17, 2026. The current trading level of ₹1,780.40 reflects the market's positive response to the new leadership appointment, with investors viewing Gupta's extensive experience as beneficial for the company's AI transformation strategy and governance standards. The stock's rise to ₹1,813.80 following JPMorgan's 'overweight' rating and Gupta's appointment demonstrates renewed investor confidence in the company's strategic direction.
