Coforge shares touched a day high of Rs 1,466 on Friday, after the company announced it had won a $230 million AI transformation deal.

The deal that drove the move is a five-year contract with a major European client, whose name Coforge has not disclosed.

It is worth more than $230 million and centres on what the IT services firm calls an AI-led transformation programme. This is one of the largest such deals Coforge has landed in Europe so far.

The work itself involves bringing together low-code and no-code platforms with AI-powered automation and AI-driven software development, aimed at modernising how the client runs its business.

Coforge said the programme should help the client make faster decisions, get more done with less manual effort, and roll out new capabilities more quickly.

John Speight, who leads Coforge’s Europe business, called the deal a milestone for the region, adding that clients are increasingly looking to embed AI into their core operations rather than run it as separate pilot projects.

Coforge said the win builds on its platform engineering strengths and adds to a growing pipeline of large AI transformation conversations across its markets, as more companies look to move from small scale experiments to full enterprise rollouts.

Even with today’s gain, the stock is still down close to 12% for the year, and remains well off its 52 week high of Rs 1,989.70 hit last December.

As of 13:13 pm, Coforge shares were trading at Rs 1,458.70 on the NSE, up 1.31% on the day.

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