Page 3 - Kpit Tech News Today

Stocks that were in focus included names like Hitachi Energy, which was up more than 3%, KPIT Technologies, which rose 4% to hit a fresh all-time high, and Linde India, which also rose nearly 3% to a fresh high on Wednesday.

"Companies like Persistent, LTIMindtree, Coforge have delivered a decent set and the management commentaries have been very optimistic. They do not believe that pricing issues will come through and order wins will continue. As EBITDA margins start normalising after the first half where wage hikes and the rest in terms of an increased allocation of operating expenses largely come through on the balance sheet, numbers should probably remain extremely stable even in the second half."

Recently, the company reported its earnings for the first quarter of FY24. It posted an 56.8 per cent year-on-year rise in its consolidated net profit to Rs 133.9 crore.

​​Tata Tech had filed IPO papers with Sebi in March. The issue is completely an offer for sale (OFS), under which the selling shareholders will offload up to 9.57 crore units representing 23.60% of its paid-up share capital.

KPIT Tech share price: Analysts noted that automotive manufacturers are prioritising investment in new age technologies and KPIT is at the forefront due to its strong domain expertise.

KPIT Technologies on Wednesday posted a 41.49 per cent in its net profit to Rs 111.60 crore during the March quarter, against Rs 78.88 crore in the year-ago per

KPIT Tech share price: The counter's 14-day relative strength index (RSI) came at 62.48. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-equity (P/E) ratio of 90. It has a price-to-book (P/B) value of 18.22.

HDFC AMC was on the top of MF buy list. MF bought doubled their HDFC AMC holding to 1.53 crore shares in March from 74 lakh shares in February.

KPIT Tech shares: FPI holding in the IT firm stood at 23.42 per cent as on March 31, as per a BSE filing, which was the highest since September quarter of 2019. FPIs held 20.26 per cent stake in KPIT Tech as on December 31, 2022.

KPIT Tech has witnessed a steep fall from the Rs 940 level. The negative bias has weakened the trend and the near-term support for the stock stands at Rs 730 level.