Page 2 - Kpit Tech News Today

Ashutosh Sharma of Forrester Research India says he doesnt anticipate a positive shift in the demand environment until at least Q2FY25, given the  uncertainty that has crept in across global markets  

Tata Tech: “Companies like ourselves that have grown up in India understand what it takes to be successful in India particularly as it pertains to attracting and retaining the best talent. I believe we have an advantage that will be very difficult for GCCs and for foreign ESPs that want to come into India to invest to match.”

KPIT Tech share price: The stock tanked 6.07 per cent to hit a day low of Rs 1,415. At this price, the scrip has declined 12.78 per cent in two days. Despite the mentioned fall, the multibagger counter has gained 106 per cent on a year-to-date (YTD) basis.

KPIT Technologies shares have gained without any commensurate fundamental catalyst, Kotak said. The domestic brokerage said a more nuanced understanding is required to forecast evolution of its addressable market.

On Friday, the 30-share BSE Sensex pack fell 188 points or 0.28 per cent to close at 65,794, while the broader NSE Nifty index moved 33 points or 0.17 per cent down to end the session at 19,732.

Amongst sectors, Nifty Realty, Media, and Consumer Durables were major gainers, while Auto, Pharma, and Healthcare were major losers. Analysts see the market consolidating within the range of 18,980 to 19,220 in the near term.

Top stocks to watch: Adani Green Energy, KPIT Tech, Jupiter Wagons, Pfizer, Zen Technologies, DLF and some other counters will be in focus today.

KPIT Tech said its profit for the September quarter grew 68.7 per cent year-on-year (YoY) to Rs 140.85 crore compared with Rs 83.48 crore in the year-ago quarter.

Brokerage Axis Securities has initiated coverage on the stock with a “buy” rating and believes KPIT Technologies is well-placed to revive its growth momentum. The brokerage has a price target of Rs 1,500 for the stock.

As per data available on StockEdge, several stocks hit their all-time high in todays trade, which includes KPIT Technologies, BSE and MCX.