KPIT Tech gains after a block deal

KPIT Technologies rose 1.61% to Rs 135.35 at 11:50 IST on BSE after a block deal of 7.97 lakh shares was executed on BSE at Rs 140 per share at 10:42 IST.

The block deal constitutes 0.41% of KPIT Technologies' equity.

Meanwhile, the S&P BSE Sensex was up 17.03 points or 0.09% at 19,919.10.

On BSE, 8.32 lakh shares were traded in the counter as against average daily volume of 88,664 shares in the past one quarter.

The stock hit a high of Rs 140 and a low of Rs 133.10 so far during the day. The stock had hit a record high of Rs 160 on 12 September 2013. The stock had hit a 52-week low of Rs 92.40 on 28 March 2013.

The stock had underperformed the market over the past one month till 3 October 2013, advancing 2.74% compared with the Sensex's 9.14% rise. The scrip had, however, outperformed the market in past one quarter, jumping 11.42% as against Sensex's 3.78% rise.

The small-cap company has equity capital of Rs 38.67 crore. Face value per share is Rs 2.

KPIT Technologies' consolidated net profit surged 18% to Rs 60.14 crore on 8% growth in net sales to Rs 613.21 crore in Q1 June 2013 over Q4 March 2013.

KPIT Technologies is a global IT consulting and product engineering company focused on co-innovating domain intensive technology solutions for manufacturing corporations (with special focus on Automotive, Hi-Tech and Industrials verticals).

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