KPIT Technologies shares rise 0.56% on Friday
KPIT Technologies shares nudged up 0.56% to ₹1,159.70 on Friday.
Trading was active, with over 5 lakh shares changing hands.
KPIT's stock is just going through normal market fluctuations
If you're following tech stocks or thinking about investing, KPIT's recent ups and downs might have caught your eye.
The company says these swings are just normal market moves—nothing has changed in their business plans or outlook since their last updates in July and August.
Goldman Sachs cuts KPIT target price to ₹1,100 from ₹1,230
Analysts like Goldman Sachs still rate KPIT as "neutral," but they've trimmed their target price from ₹1,230 to ₹1,100 because new contracts are taking longer to ramp up.
They're also expecting a small dip (2%) in revenue this quarter.
KPIT's long-term story remains intact
Even with short-term bumps, KPIT's fundamentals are strong.
So while the stock might wobble now and then, the company has a track record of delivering for its shareholders.