KPIT Technologies is an Indian multinational company that provides Information Technology and Automotive engineering services. It has two business segments: Information Technology (IT) and Automotive Engineering. The company was founded in 1990 as KPIT Infosystems, and renamed KPIT Technologies in 2013. The company is headquartered in Pune, Maharashtra, India. As of 2016, KPIT Technologies has around 11,500 employees across 41 global locations.
What is KPIT Technologies?
KPIT Technologies is a global technology company specializing in product lifecycle management (PLM) software solutions. The company develops, sells and implements software solutions for the automotive, aerospace, heavy equipment and other industries. KPIT Technologies has over 3,500 employees in 25 countries.
KPIT Technologies Shares:
KPIT Technologies shares were up in early trading on Thursday after the company announced better-than-expected results for the fourth quarter.
The Indian IT services firm posted a profit of Rs 309 crore ($41.5 million) for the three months ended March 31, exceeding analyst expectations of Rs 273 crore. Revenue rose 7.4% to Rs 2,290 crore from Rs 2,131 crore a year ago.
The company attributed its strong performance to robust growth in its digital and engineering businesses. Digital revenue grew 27% year-on-year to Rs 1,023 crore, while engineering revenue increased 8% to Rs 667 crore.
KPIT CEO Kishor Patil said the company is well positioned to benefit from the ongoing digital transformation of its clients. “We are confident of sustaining our profitable growth momentum,” he said in a statement.
Shares of KPIT were up 4% at Rs 238 in early trading on the Bombay Stock Exchange.
KPIT Technologies Shares Price:
KPIT Technologies shares are currently trading at Rs. 139.70, up 3.41% on the day. The stock has been trading in a range of Rs. 136.05-139.85 so far today.
The stock hit a 52-week high of Rs. 220 in December last year and a 52-week low of Rs. 121 in August this year.
On the BSE, 1,604,596 shares have traded so far in the counter as against an average daily volume of 939,258 shares in the past one quarter.
The stock is currently trading above its 200-day moving average of Rs. 132.79 and its 50-day moving average of Rs. 133.22..
