KPIT share price

JP Morgan has initiated coverage on the stock with an "underweight" rating and a target price at Rs 540 per share.

Positively, the company is well placed to take advantage of Its SDV (Software Designed vehicle) program through organic & inorganic route," analysts at Geojit Financial Services had said in a December quarter result update. Automotive manufacturers are prioritizing investment in new age technologies and KPIT is at the forefront of these. Shares of KPIT Technologies slipped 8 per cent to Rs 847 on the BSE in Monday's intra-day trade on profit booking amid report that foreign brokerage JP Morgan has initiated coverage with an "underweight" rating on the stock.

JPMorgan's target for the stock is driven by lower structural margins, risks from single vertical and high client concentration, and excessive valuations, ...

[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). The company’s net profit also rose 48% to Rs 104 crore, compared to Rs 70 crore in Q3FY22. However, on a year-to-date basis, the stock has risen 14%, while it has surged 28% in the last year. For fastest news alerts on financial markets, investment strategies and stocks alerts, [subscribe to our Telegram feeds](https://t.me/joinchat/J60pKE7SOStsj5sI8nDmHQ).) The consensus recommendation from 11 analysts for KPIT Technologies is a hold. [KPIT Technologies](/kpit-technologies-ltd/stocks/companyid-69000.cms)tumbled over 17% to Rs 760 in Monday's trade on [BSE](/marketstats/pid-41,exchange-bse,sortby-value,sortorder-desc.cms)after the global brokerage firm JPMorgan initiated coverage on the stock with an underweight rating and a target price of Rs 520, a potential downside of 44% from Friday's closing price of Rs 925.

Shares of KPIT Technologies Ltd. declined the most in over three months on Monday, after JPMorgan Chase & Co. initiated coverage with an 'underweight' call.

The average of price target implies a potential upside of 2.3% over the next 12 months. Shares of the company plunged as much as 17.85%, the most in over two years, on Monday. The total traded quantity in the day stood at 6.1 times the 30-day average.

Shares of KPIT Technologies tumbled on Monday after JP Morgan initiated coverage on the auto software solutions company with an 'underweight' rating.

Our broad experience in developing SDV roadmaps for several industry leading car and truck makers coupled with an ecosystem of Alliances gives us the confidence to create something unique for Honda," Sachin Tikekar, president & joint managing director, KPIT had said. Its profit stood at ₹83 crore during the September quarter. This comes days after the company announced its partnership with Japanese carmaker Honda.