India's KPIT Technologies gains as Qualcomm Ventures joins as shareholder in JV

KPIT Technologies

17/03/2025 06:47

** Indian automotive tech firm KPIT Technologies KPIE.NS jumps 4.2% to 1,257 rupees

** Co said Qualcomm Ventures, the venture capital arm of Qualcomm QCOM.O, will become minority shareholder in KPIE's joint venture company Qorix GmbH

** Qorix GmbH is KPIE's JV with German technology manufacturing company ZF Friedrichshafen ZFF.UL

** Qualcomm Ventures will have an option to increase shareholding in JV by up to 10 million euros ($10.9 million), it did not disclose the initial shareholding details

** KPIE stock is rated "buy" on avg, median PT at 1,580 rupees - data compiled by LSEG

** KPIE down ~18% YTD

($1 = 0.9189 euros)

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))