India's KPIT Technologies drops after weak outlook
BUZZ-India's KPIT Technologies drops after weak outlook ** Shares of KPIT Technologies KPIE.NS drop 15.7% to 566.30 rupees
** Automotive software co expects ~1% Y/Y decline in USD revenues for Q1, due to sudden actions by some European OEMs triggered by their recent profit warnings, adverse business outlook
** Adds, Q1 EBITDA margin and net profit margin would decline sequentially
** KPIE says performance in H1 of FY27 would be unsatisfactory; confident of ability to demonstrate profitable growth during the second half with sequential quarterly growth in Q4
** Brokerage JM Financial downgrades KPIE rating to 'Reduce' from 'buy', cuts PT to 620 rupees from 860 rupees
** JP Morgan downgrades to 'Underweight' from 'Neutral', cuts PT to 550 rupees from 700 rupees
** Investec says weakness is driven by a partial halt in billing from two large European accounts
** YTD, KPIE down ~52%
(Reporting by Vijay Malkar)
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