Midcap IT stock jumps as company rolls out Cloud-based platform for logistics space

Coforge shares were in demand on Dalal Street on Monday, after the Noida-based IT firm launched a Cloud-based platform, Quasar eBOL, for the logistics sector. The Coforge stock gained by as much as Rs 99 or 2.4 per cent to Rs 4,303 apiece on BSE in intraday trade after the news.  

Coforge said the solution will be used for extraction and process automation of unstructured paper bill of lading (BOL), and will help in improving asset utilisation and reducing costs as it digitises, streamlines and automates load planning and billing for freight handling. 

“The unstructured, highly diverse paper BOLs have created very manual processes to track, plan, and bill freight handling for decades and one of the toughest problems to solve in the logistics industry. Coforge’s Quasar eBOL is technology-agnostic, doesn’t come with high or open-ended license costs like typical software tools, and will give carriers immense value in automating and dynamically adjusting time critical decisions," said Sanjay Dalwani, Executive Vice President and Global Head of Transportation, Travel and Hospitality at Coforge.

(This story will be updated shortly)

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