India's KPIT Technologies rises as Renault picks co as technology partner

KPIT Technologies

23/11/2022 07:49

** Shares of KPIT Technologies  KPIE.NS  rise as much as
5.36% to 720 rupees, their biggest intraday pct gain since Oct.
21
    ** Co, engaged in automobile engineering and mobility
solutions, says it was selected by French automaker Renault
Group  RENA.PA  as technology partner for next generation
Software-Defined Vehicle (SDV) program  urn:newsml:reuters.com:*:nFWN32I44Z
    ** Co said it will contribute to advanced driver assistance
systems (ADAS), chassis, body electronics, platforms, systems
engineering, and vehicle validation in the SDV program
    ** Software from KPIT will unlock electrification,
autonomous driving, and connected vehicle experiences - Kishor
Patil, chief executive officer, KPIT Technologies
    ** More than 705,000 shares traded via mulitple block deals,
per Refinitiv data
    ** More than 3.9 shares changed hands, vs their 30-day avg
of ~2.1 mln shares
    ** Four of 9 brokerages rate the stock "buy" or higher, 3
"hold" and 2 "sell" or lower; their median PT is 693 rupees-
Refinitiv data
    ** Stock up 11.49% YTD, as of last close
 (Reporting by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))