India's KPIT Technology rises on Technica Engineering deal

KPIT Technologies

21/09/2022 07:36

** Shares of KPIT Technology Ltd  KPIE.NS  rise as much as 2% to
585.9 rupees
    ** Automobile engineering and mobility solution firm on
Tuesday announced acquisition of Technica Engineering, the deal
is expected to close by Oct end  urn:newsml:reuters.com:*:nFWN30R26U
    ** The deal will be EPS accretive upon consolidation   
    ** 3 out of 8 brokerages rate the stock "buy" or higher,
three "hold" and two "sell"; their median PT is 547.50 rupees -
Refinitiv data 
    ** More than 507,273 shares change hands by 0617 GMT vs
30-day avg of 1.7 mln shares 
    ** As of last close, KPIE stock down 6.29%





 (Reporting by Navamya Ganesh Acharya)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))