KPIT Technologies rallies 32% in 6 days, hits new high on strong outlook

Shares of KPIT Technologies rallied 9 per cent to hit a new high of Rs 409.80 on the BSE in Wednesday’s intra-day trade amid heavy volumes on strong outlook. The stock of the information technology (IT) consulting & software company surpassed its previous high of Rs 385, touched on August 16, 2021.

In the past six trading days, the market price of KPIT Technologies has surged 32 per cent after the company raised outlook for revenue and profit for the financial year 2021-22 (FY22). The company said, for FY22, revenue growth outlook has been increased to 18 to 20 per cent, while earnings before interest, tax, depreciation and amortization (Ebitda) margin outlook has been revised to 17.5+ per cent.