KPIT Technologies resumes uptrend; gains over 33% this month

KPIT Technologies surged 6.51% to Rs 450.50, as the scrip resumed its uptrend after a day's pause.

The stock had declined 1.55% to end at 423 yesterday.

Shares of KPIT Technologies have advanced 33.68% in one month to currently trade at Rs 450.50, from its closing of Rs 337 recorded on 18 October 2021.

On a year-to-date (YTD) basis, the stock has zoomed 216.93% while the benchmark Sensex has added 26.87% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 79.032. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 344.09, 317.14 and 251.26, respectively.

KPIT Technologies is a technological company focused on automobile engineering and mobility solutions. The company offers technology solutions to automobile OEMs under different practices such as power trains (conventional and electrical), connectivity, autonomous (vision and control systems) and diagnostics.

The company's consolidated net profit rose 133.42% to Rs 65.10 crore in the quarter ended September 2021 as against Rs 27.89 crore during the previous quarter ended September 2020. Sales rose 21.71% YoY to Rs 590.87 crore during the quarter.

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