Shares of multibagger KPIT Technologies are expected to rise another 13% in the next one year, said brokerage Axis Securities. KPIT Technologies stock can rise up to Rs 2,100 mark, according to the brokerage. The IT stock closed at Rs 1,864 on BSE on Friday. In the current session, the multibagger IT stock was trading over 1% lower at Rs 1835.50. The stock touched an intraday high of Rs 1890.60 on Monday. Compared to the 52-week low of Rs 961 reached on July 24, 2023, the stock has risen 97% from that level in nearly a year.
Axis Securities has upgraded its recommendation and assigned a 57x P/E multiple to its FY26E earnings of Rs 37.1/share to arrive at a price target of Rs 2,100/share, implying an upside of 13% from the current market price. The brokerage has assigned a Buy rating on the stock.
“Strong revenue growth momentum will continue backed by robust deal wins and strong addition of capabilities. FY25 guidance is 18% to 22%. EBITDA Outlook retained at 20.5%+,” said the brokerage.
Brokerage JM Financial has reiterated its buy stance on KPIT Tech. It has a price target of Rs 2,030.
Total 0.60 lakh shares of the firm changed hands amounting to a turnover of Rs 11.10 crore on BSE. Market cap of the firm stood at Rs 50,393 crore.
In a year, the stock has gained 72.52 per cent and risen 274 per cent in two years. The stock delivered multibagger returns of 612% in three years.
In terms of technicals, the relative strength index (RSI) of KPIT Technologies stock stands at 75.6, signaling it's trading in the overbought zone. KPIT Technologies stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
KPIT Technologies Limited is a technology company, which is focused on automobile engineering and mobility solutions. The company offers electronic and mechanical engineering solutions to its customers. It also analyses data for diagnostics, maintenance and tracking of assets and related connectivity solutions, including data and analytics beyond embedded or mechanical engineering and their connectivity and integration with back-end information technology (IT) systems and platforms for the automobile and mobility sector.