Loading market data...
Wed, 09 Sept 2026
07:20:18 am
Wed, 09 Sept 2026
07:20:18 am
Rudransh Sangwan
Published at: September 9, 2026, 4:45 AM
Synopsis
Coforge shares fell sharply after chairman Om Prakash Bhatt resigned following internal audit concerns. Check the stock price, performance and interim chairman details.
Coforge shares fell sharply on Wednesday, September 9, after chairman Om Prakash Bhatt resigned following concerns raised by an internal audit over the company's board evaluation process.
Coforge shares were down 7.12% at ₹1,809.20 around 9:16 am IST, according to Reuters. The stock later traded at around ₹1,837, down 5.76%, based on the market data provided.
The resignation came after an internal audit review of Coforge's Board Evaluation Exercise for Q2 FY26. The review raised concerns that certain material information related to the board evaluation report and the chairman's performance had not been fully disclosed to the board.
The board sought an explanation from Bhatt over the findings. He said he had acted in good faith but resigned while the board was still evaluating his response.
Coforge has appointed Vivek Sharma, a non executive independent director, as interim chairperson until January 31, 2027. Bhatt has also stepped down from all company committees with immediate effect.
According to the company's disclosure, Bhatt said there were no other material reasons for his resignation. He said continuing on the board amid disagreements over his actions during the evaluation process would not be conducive to effective functioning.
The resignation has put Coforge under pressure after the stock had delivered positive returns over longer periods. Based on the supplied market data, Coforge has gained 58.55% over six months and 10.91% over one year.
| Coforge stock metric | Details |
|---|---|
| Current price | ₹1,837 |
| Market capitalisation | ₹81,366 crore |
| P/E | 42.4 |
| ROCE | 23.5% |
| ROE | 21.4% |
| 52 week high | ₹2,022 |
| 52 week low | ₹1,008 |
| Period | Return |
|---|---|
| 1 Day | -5.78% |
| 5 Days | -7.30% |
| 1 Month | +3.82% |
| 6 Months | +58.55% |
| 1 Year | +10.91% |
| 5 Years | +79.49% |
Loading chart...
Coforge will now remain in focus as investors assess the company's response to the internal audit findings and the change in board leadership. The appointment of an interim chairperson is also likely to remain a major factor for sentiment around the stock.
The company provides IT solutions and technology services, with operations across several international markets. Investors will now track further disclosures from Coforge regarding its board evaluation process and leadership structure.
Financial journalist specializing in market analysis, stock research, and investment trends. Dedicated to providing accurate, timely insights for informed decision-making.
Credentials: Experienced financial journalist with expertise in equity markets and economic analysis
The information provided in this article is for educational and informational purposes only and should not be construed as financial, investment, or legal advice. welomoney does not provide personalized investment recommendations.
For detailed terms and conditions, please read our Disclaimer and Terms of Service.
HAL is preparing to deliver the first three HTT 40 trainer aircraft to the IAF after Honeywell engine supplies resumed.
Jefferies sees over $60 billion of domestic defence opportunity and prefers Solar Industries, Astra Microwave, HAL and BEL.
Brent crude rose 1.6% to $99.49 as Middle East tensions heightened supply concerns. See WTI prices, Asian market moves, inflation risks and what...
Indian markets opened lower as higher crude prices raised concerns over inflation and imports.
Vodafone Idea has received relief from the Supreme Court after the apex court refused to interfere with a Bombay High Court order that had quashed a...
