KPIT Tech rallies 30% in 2 weeks, hits record high as promoters hike stake

As per the management's initial assessment, there will be significant impact in H1 of FY2021 while recovery is expected to commence from Q3FY21

Shares of KPIT Technologies continued their its northward journey, surging 10 per cent to Rs 127 -- the stock's record high -- on the BSE on Wednesday in an otherwise weak market.

The IT consulting & services company's stock has rallied 30 per cent in the past two weeks after promoters bought shares of the company through open market. In comparison, the S&P BSE Sensex was down 3.5 per cent during the same period. The stock surpassed its previous high of Rs 118.90, touched on September 21, 2020.

On September 18, 2020, Anupama Kishor Patil, acquired 1.4 million