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KPIT TECHNOLOGIES Plunges 7%; BSE IT Index Down 0.2%
Thu, 24 Oct 9:46

KPIT TECHNOLOGIES Plunges 7%; BSE IT Index Down 0.2%Image source: phive2015/www.istockphoto.com

KPIT TECHNOLOGIES share price has plunged 7% and is presently trading at Rs 1,523.5.

Meanwhile, the BSE IT index is at 42,114.7 (down 0.2%).

Among the top losers in the BSE IT index today are Firstsource Solutions (down 3.2%) and Birlasoft (down 2.8%).

CYIENT (up 3.2%) and Coforge (up 1.8%) are among the top gainers today.

Over the last one year, KPIT TECHNOLOGIES has moved up from Rs 1,154.1 to Rs 1,523.5, registering a gain of Rs 369.5 (up 32.0%).

On the other hand, the BSE IT index has moved up from 31,255.0 to 42,114.7, registering a gain of 34.7% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 182.4%), Firstsource Solutions (up 112.9%) and PERSISTENT SYSTEMS (up 92.4%).

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What About the Benchmark Indices?

The BSE Sensex is at 79,927.4 (down 0.2%).

The top losers among the BSE Sensex today are Hindustan Unilever (down 5.1%) and Nestle (down 1.5%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,362.2 (down 0.3%). Hindustan Unilever and Hindalco are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 79,927.4, registering a gain of 15,355.5 points (up 23.8%).

KPIT TECHNOLOGIES Financial Update...

KPIT TECHNOLOGIES net profit grew 47.1% YoY to Rs 2,080 million for the quarter ended September 2024, compared to a profit of Rs 1,414 million a year ago. Net sales rose 22.7% to Rs 14,714 million during the period as against Rs 11,992 million in July-September 2023.

For the year ended March 2024, KPIT TECHNOLOGIES reported 54.7% increase in net profit to Rs 5,985 million compared to net profit of Rs 3,869 million during FY23. Revenue of the company grew 44.8% to Rs 48,715 million during FY24.

The current Price to earnings ratio of KPIT TECHNOLOGIES, based on rolling 12 month earnings, stands at 56.7.


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