KPIT Technologies stock drops 15% on profit warning
after close1 source ↓written by the desknot a recommendation
- target price
- ₹550
Shares of KPIT Technologies fell over 15% after the company issued a profit warning for the June quarter, indicating that second-quarter revenue is expected to remain flat. Following this announcement, JPMorgan downgraded the stock rating and cut the target price to ₹550. The weak outlook may continue into the September quarter.
Not investment advice. For informational purposes only.