Shares of multibagger KPIT Technologies Ltd have zoomed nearly 123% from their 52-week low hit in the beginning of this year. The multibagger IT stock touched its yearly low of Rs 676.15 on January 4, 2023. KPIT Technologies stock has recovered 122.70% from its 52-week low till date. The stock closed 0.75% lower at Rs 1505.80 in the current session. Despite the stellar rally in 2023, the IT stock is still down 8.15% from its record high of Rs 1639.60 reached on November 20 this year.
Bucking the trend of its Tier-1 IT sector peers, KPIT Technologies increased its constant currency (CC) revenue growth outlook for FY24 to over 37%. EBITDA margin guidance was increased to over 20%.
KPIT Technologies stock gained 5.36 per cent to Rs 719.95 against the previous close of Rs 683.30 on BSE. Market cap of the firm rose to Rs 19,519 crore on BSE today