52-Week Low, KPIT Technologies Plunges 14% Hits

KPIT Technologies shares dove as much as 14 for every penny on Thursday to hit another 52-week low of Rs 85.05.

KPIT Technologies shares additionally saw a spurt in volume with 22 lakh shares exchanged on the BSE in right on time exchange when contrasted with a 2-week normal of 1.26 lakh.

Ravi Pandit, administrator and gathering CEO of KPIT Technologies, denied gossipy tidbits that promoters are offering stake in the organization. He additionally illuminated that the organization has not issued a benefit cautioning.

Shares of another mid-level IT organization Persistent Systems had dove 12 for every penny on Wednesday after it cautioned about its April-June quarter results.

At 11:01 a.m., shares of KPIT Technologies were down 7.5 for each penny at Rs 91.70 when contrasted with a level Sensex.Persistent Systems shares were down 2.3 for every penny today at Rs 613.

KPIT Technologies shares had taken a major beating after it had reported Q4 income in April. KPIT Technologies shares had dove more than 30 for every penny in two days (April 29-30) after its Q4 income baffled financial specialists. In Q4, KPIT reported a 23 for each penny successive decrease in net benefit at Rs 50.3 crore; deals plunged 2.2 for every penny successively to Rs 763 crore.

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