KPIT Cummins builds on fundamentals

DALAL STREET SPIKES

KPIT Cummins Infosystems counter has been in the limelight with the stock witnessing strong gains over the past one month. The stock in Tuesday's trading was up 1.85 per cent to close at Rs 440.50 with volumes accounting for more than 21,000 shares on the BSE.

Fund based buying interest, coupled with strong fundamentals and over all positive sentiment towards the tech sector has resulted in sharp rise in the stock price in the past one month.

From Rs 383 on 6 August, 2004, the stock has now appreciated nearly 15 per cent to today's close of Rs 440.50. As on 30 June, 2004, mutual funds and UTI hold 11.60 per cent, banks, FIs and insurers together hold 0.01 per cent and FIIs 5.96 per cent in the firm.