ICICI Direct has a buy call on KPIT Technologies with a target price of Rs 215 for a duration of 14 days. The current price of KPIT Technologies is Rs 199.3. ICICI Direct recommended to keep a stoploss at Rs 184.
KPIT Technologies, incorporated in the year 2018, is a Small Cap company with a market cap of Rs 5465.06 Crore operating in IT Software sector.
KPIT Technologies key Products/Revenue Segments include Software Services and Sale of Products for the year ending 31-Mar-2020.
Investment rationale
According to a ICICI Direct report, Tata Metaliks stock is in a strong up trend forming higher peak and higher trough in all time frames. It has generated a bullish flag breakout signalling continuation of the up trend and offers entry opportunity to ride the next up move. The report added that, the daily 14 periods RSI is at the cusp of generating a bullish crossover above its nine periods average thus validates positive bias for the stock.
Financials
For the quarter ended 31-12-2020, the company has reported a Consolidated Total Income of Rs 523.94 Crore, up 7.37 per cent from last quarter Total Income of Rs 487.98 Crore and down 6.58 per cent from last year same quarter Total Income of Rs 560.83 Crore. Company has reported net profit after tax of Rs 42.97 Crore in latest quarter.
Source Link
