KPIT Technologies gains after a bulk deal

KPIT Technologies rose 2.11% to Rs 150 at 15:11 IST on BSE after a bulk deal of 4.91 lakh shares was executed on the counter on BSE at Rs 145 per share at 11:54 IST.

The bulk deal constitutes 0.25% of KPIT Technologies' equity.

Meanwhile, the S&P BSE Sensex was up 365.01 points or 1.74% at 21,361.54

On BSE, 6.11 lakh shares were traded in the counter as against average daily volume of 1.23 lakh shares in the past one quarter.

The stock hit a high of Rs 150.45 and a low of Rs 144.90 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 6 December 2013, falling 1.74% compared with the Sensex's 0.49% rise. The scrip, however, outperformed the market in past one quarter, rising 10.99% as against Sensex's 8.96% 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 10.97% to Rs 66.74 crore on 14.6% growth in net sales to Rs 702.77 crore in Q2 September 2013 over Q1 June 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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