Suresh Chandrasekaran, executive vice president at Denodo, said, “We are excited to embark on this strategic collaboration with Coforge to help accelerate business transformation at banks and financial services organizations through agile self-service data delivery and data modernization, while also addressing key challenges such as security, governance, and migration risk.”

Deepak Khetpal, executive vice president and global head of data and analytics, Coforge, said, “This forward-thinking alliance will enable us to better address the needs of our clients, providing them with easier access to vital data sources and greater flexibility in data virtualization efforts.”

Coforge is a global digital services and solutions provider that leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients.

The company's consolidated net profit jumped 13.5% to Rs 228.20 crore on 4.9% rise in net sales to Rs 2,055.80 crore in Q3 FY23 over Q2 FY23.

The scrip slumped 6.03% to Rs 4068.90 on the BSE.

On the BSE, over 2.53 lakh shares of the company were traded in counter so far as against an average trading volume of 0.20 lakh shares in the past two weeks.

On the NSE, over 74.49 lakh shares of the company had changed hands at the counter as compared with an average trading volume of 3.51 lakh shares in the past three months.

As per media reports, Hulst BV, an entity controlled by Baring Private Equity, was to sell some stake in Coforge.

The private equity firm had acquired a stake in the mid-tier IT company in 2019. It held 63.99% stake in Coforge at the end of the March 2021 quarter. That has been pared down by subsequent selling to 40% promoter stake.

Hulst B.V. held 39.99% stake or 2.44 crore shares of Coforge at the end of December 2022 quarter.