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Stock 360: Here's why CoForge is among expensive midcap IT stocks

Updated : December 22, 2020 05:25:44 IST

CoForge is up 57 percent so far this year and it's now among the most expensive midcap IT stocks.

The stock has outperformed the IT index by 10 percent and has a large presence in the aviation space, which makes it a bit vulnerable to news on the coronavirus front.

The other factor that goes in favour of CoForge is that there is a very limited float, 70 percent is held by promoters, while 20 percent is with institutions -- FIIs and mutual funds -- and 5 percent with retail. So it's a stock where small moves sometimes can lead to exaggerated moves.

To know more, watch the video.
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