Coforge Shares Drop 6% Amid Sabre's Disappointing Report
Coforge shares fell by 6% to ₹1,605 on August 8, marking a 10% drop in just four days. The decline followed Sabre Corp's 35% plunge on the Nasdaq after a disappointing quarterly report. Sabre cut its growth outlook, anticipating only 4-10% growth in Air Distribution Volumes, down from previous estimates. Despite this, Coforge reported an 8% revenue growth and secured new deals worth $507 million. The company is a key partner for Sabre, enhancing product delivery and AI solutions. Despite recent challenges, Coforge's order book is strong, indicating potential future growth.
