Page 10 - Kpit Technologies News Today

Analysts say outlook remains bullish for KPIT Technologies, which stock price has experienced a strong upward movement after breaking out from the ascending triangle pattern at Rs 948

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 Technologies expects revenue growth in the range of 27-30 percent in constant currency and EBITDA margin at 19-20 percent for FY24

KPIT Technologies shares touched a high of Rs 910 today, rising 6.81 per cent against the previous close of Rs 852 on BSE.

Jindal Saw (391 basis points), Celebrity Fashions (368 basis points) and KPIT Tech (316 basis points) were a few other stocks where FPIs increased their stakes by at least 300 basis points in the March quarter sequentially.

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.

KPIT’s M&A strategy has been focused on acquiring capabilities. It has done four acquisitions over the past two years for a cumulative amount of $166mn with the biggest being Technica in September 2022 for $110 million

The brokerage see two major reasons for de-rating — growth is expected to fall below 20 percent beyond FY24 and Tata Technologies IPO will reduce the scarcity premium associated with KPIT