India's KPIT Technologies hits record high

KPIT Technologies

20/03/2023 06:38

** India's KPIT Technologies  KPIE.NS  rise as much as 2.9%
to a record high at 893.95 rupees in weak broader market
    ** Tech firm, which is focused on automobile engineering and
mobility solutions, is up 26% YTD vs 0.6% drop in Nifty IT index
    ** Last week, co announced partnership to help Japan's Honda
 7627.T  with its expertise in autonomous driving, vehicle
electrification, in-vehicle infotainment etc
    ** About 3.4 mln shares change hands vs 30-day avg of 2 mln
shares
    ** Of the nine analysts tracking KPIE, five maintain "buy",
two suggest "hold" and two recommend "sell"; median TP is 700
rupees - Refinitiv data

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))