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    Anand Rathi maintains ‘buy’ on KPIT Tech, target price Rs 135

    Synopsis

    Buy KPIT Technologies Ltd. at a price target of Rs 135.0 .

    Buy-sale6
    Anand Rathi has maintained its ‘buy’ call on KPIT Technologies in the long term with a target price of Rs 135. Shares of KPIT declined 1.22% to Rs 97.25 on Wednesday while the BSE Sensex rose 161.83 points to 36,724.74.

    Company Financials

    For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 505.75 crore, up .89 % from last quarter Sales of Rs 501.27 crore and unchanged from last year same quarter sales. The company has reported net profit after tax of Rs 31.01 crore in the latest quarter.

    Investment Rationale
    The company would give a 30% EBITDA CAGR as it broadens client mining to capitalize on added customer spend on technology, according to the brokerage. The slowdown in sales of vehicles doesn’t impact KPIT, since it is primarily involved in production programmes, which typically start three years prior to actual model launches. By this definition, KPIT’s business is more geared to launches and production expectations for FY21, added the brokerage.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

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