KPIT Tech share price: The stock tanked 6.07 per cent to hit a day low of Rs 1,415. At this price, the scrip has declined 12.78 per cent in two days. Despite the mentioned fall, the multibagger counter has gained 106 per cent on a year-to-date (YTD) basis.
KPIT Technologies shares have gained without any commensurate fundamental catalyst, Kotak said. The domestic brokerage said a more nuanced understanding is required to forecast evolution of its addressable market.
KPIT Tech said its profit for the September quarter grew 68.7 per cent year-on-year (YoY) to Rs 140.85 crore compared with Rs 83.48 crore in the year-ago quarter.
Multibagger Shares: Goldman Sachs all 269 historical multibagger stocks in India over the past two decades share at least one of the above 6 traits, and about 75 per cent of them share at least 4 traits.
KPIT Tech share price: The counter's 14-day relative strength index (RSI) came at 62.48. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-equity (P/E) ratio of 90. It has a price-to-book (P/B) value of 18.22.