KPIT Tech hits record high; adds over 10% in two days

KPIT Technologies jumped 5.85% to Rs 122.20, extending gains for second day in a row.

The stock has added 10.13% in two days while the benchmark S&P BSE Sensex rose 0.57% during the same period. The stock hit a record high of Rs 127 in intraday today.

In a separate regulatory filing, the company said it released pledge on 1,96,92,860 equity shares (7.18% equity) lying with the Vistra ITCL (India). With this, only 16,23,610 shares (0.60% equity) of the company are still pledged with Vistra ITCL (India).

Meanwhile, Anupama Kishor Patil (one of the promoters) acquired 14 lakh equity shares of KPIT Technologies at Rs 100 per share on the BSE via bulk deal on 18 September 2020. On 22 September 2020, Anupama Patil bought an additional 94,000 shares of the company via open market. Accordingly, Anupama Kishor Patil's stake in KPIT Technologies increased to 0.59% from 0.04% as on 30 June 2020.

KPIT Technologies operates as a technology company. The company specializes in embedded software, artificial intelligence, and digital solutions and serves automobile industry worldwide.

The company's consolidated net profit declined 36.43% to Rs 24.22 crore on 11.41% fall in revenue from operations to Rs 492.71 crore in Q1 June 2020 over Q4 March 2020.

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