 "KPIT Technologies extends fall on lower Q4 revenue outlook")
Shares of KPIT Technologies were trading lower by 4% at Rs 184, extending its 6% fall in past two trading sessions on the BSE, after the information technology (IT) company reduced its January-March 2015 quarter (Q4FY15) guidance due to cross currency headwind.
According to the management, Q4FY15 is likely to flattish quarter?on?quarter. Revenue guidance for FY15 is likely to be met in constant currency. Moreover, there will be marginal growth in profit after tax for FY15.
The stock opened at Rs 194 and hit a low of Rs 184, its lowest level since December 2014 on the BSE. A combined 725,630 shares changed hands on the counter till 1214 hours on the BSE and NSE.
Meanwhile, Shashi Bhusan and Hussain Kagzi analysts at Prabhudas Lilladher retain positive view as earning momentum likely to pick?up in FY16?17E. Analysts retain “BUY” rating with revised target price of Rs 270 from Rs 280.
According to the management, Q4FY15 is likely to flattish quarter?on?quarter. Revenue guidance for FY15 is likely to be met in constant currency. Moreover, there will be marginal growth in profit after tax for FY15.
The stock opened at Rs 194 and hit a low of Rs 184, its lowest level since December 2014 on the BSE. A combined 725,630 shares changed hands on the counter till 1214 hours on the BSE and NSE.
Meanwhile, Shashi Bhusan and Hussain Kagzi analysts at Prabhudas Lilladher retain positive view as earning momentum likely to pick?up in FY16?17E. Analysts retain “BUY” rating with revised target price of Rs 270 from Rs 280.
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