Coforge gains on launching Quasar e-BOL for freight movement industry
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Coforge is currently trading at Rs. 4278.20, up by 74.20 points or 1.76% from its previous closing of Rs. 4204.00 on the BSE.
The scrip opened at Rs. 4185.55 and has touched a high and low of Rs. 4284.70 and Rs. 4176.80 respectively. So far 4252 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4870.00 on 09-Mar-2022 and a 52 week low of Rs. 3210.00 on 19-Sep-2022.
Last one week high and low of the scrip stood at Rs. 4284.70 and Rs. 4000.40 respectively. The current market cap of the company is Rs. 26129.64 crore.
The promoters holding in the company stood at 39.99%, while Institutions and Non-Institutions held 48.04% and 11.97% respectively.
Coforge has introduced Quasar e-BOL, leveraging its document processing engine to address a universal need in the freight movement industry. Coforge’s Quasar eBOL is a technology-agnostic cost-effective solution to digitize Bills of Lading (BOL).
Industry analysts and the Digital LTL Council estimate 85% of all freight under management is still handled by non-standard paper BOLs. This creates massive problems with shipment visibility, errors, and restricts the ability to move freight and bill efficiently. Further, the Digital LTL Council has recently announced an industry-wide definition for electronic BOL (eBOL) which is critical to solving many pervasive issues in this industry. While a standardized eBOL can provide visibility to shipment location in the supply chain at any point, the unaddressed problem resides in the paper-to-data conversion.
Coforge has launched Quasar eBOL, giving carriers the unparalleled ability to streamline and automate the entire billing process, while reducing errors and rework. Developed using open-source technology, Quasar eBOL is architected for deployment flexibility as an open API solution which works in both online (cloud) and offline (edge) scenarios.
Coforge (Formerly known as NIIT Technologies) is a leading global IT solutions organization, enabling its clients to transform at intersect of unparalleled domain expertise and emerging technologies to achieve real-world business impact.
