KPIT Tech stock falls 15% on profit warning and downgrade
pre-market1 source ↓written by the desknot a recommendation
- target price
- ₹550
Shares of KPIT Technologies fell over 15% after hitting lower circuits due to a profit warning for the June quarter. The company indicated that second-quarter revenue is expected to remain flat, prompting JPMorgan to downgrade its rating and cut the target price to ₹550. This weak outlook may persist into the September quarter.
Not investment advice. For informational purposes only.