Page 2 - Kpit Technologies News Today

The domestic equity market closed in green on Friday. Sensex ended 440 points higher at 72,085. Nifty climbed 156 points to 21,853. Heres a look at stocks buzzing in action today.

KPIT Technologies Q3 FY24 Results Live : Revenue increased by 37.06% YoY & profit increased by 54.57% YoY

The Pune-based IT firms consolidated revenue rose by 37.06% to Rs 1,256.96 crore as compared with Rs 917.11 crore in the year-ago period.

The company outperformed the market predictions and announced an interim dividend of Rs 2.10 per equity share of face value of Rs 10 each

Sandip Sabharwal says largecap IT stocks do not interest him. Some selective midcap IT companies are doing very well, like those which have distinct business or like KPIT Technologies or like BirlaSoft reported very strong results, etc. There, investors can selectively invest on corrections.

The changes in FTSE All-World and FTSE All Cap will be announced on February 16 and the adjustments will take place on March 15, the firm said.

Shares of multibagger KPIT Technologies Ltd have zoomed nearly 123% from their 52-week low hit in the beginning of this year. The multibagger IT stock touched its yearly low of Rs 676.15 on January 4, 2023. KPIT Technologies stock has recovered 122.70% from its 52-week low till date. The stock closed 0.75% lower at Rs 1505.80 in the current session. Despite the stellar rally in 2023, the IT stock is still down 8.15% from its record high of Rs 1639.60 reached on November 20 this year.

In theory, when the price-to-earnings (PE) ratio - a popular valuation measure - of a stock or an index is above averages, the stock is considered richly valued and is considered to have limited upsides.

In the near term, given the RSI at overbought zone levels and PCR (Put-Call ratio) reached 1.5 mark, the consolidation or some pull back cant be ruled out, experts said.

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