Coforge holds top mid-tier IT stock rating at Motilal Oswal

Motilal Oswal has reaffirmed its confidence in Coforge, positioning the IT services firm as its top choice among mid-sized technology companies. The brokerage's positive stance reflects Coforge's robust pipeline of new client wins and consistent execution track record in a competitive sector.

Key factors supporting the bullish outlook include the company's improving cash conversion metrics, which indicate enhanced operational efficiency and working capital management. Additionally, the integration of Encora—a strategic acquisition by Coforge—is expected to unlock meaningful margin expansion opportunities in the coming quarters.

The brokerage believes Coforge's medium-term growth trajectory remains attractive, supported by its ability to secure large-value deals while simultaneously improving profitability metrics. The company's focus on expanding service offerings and geographic footprint continues to position it favorably against larger peers.

Motilal Oswal's recommendation underscores investor interest in mid-tier IT service providers that demonstrate both growth and profitability improvements. The analyst outlook suggests Coforge's combination of deal velocity, operational discipline, and integration success presents a compelling investment case for those seeking exposure to India's technology services sector.