KPIT Technologies: Why Goldman Sachs is bullish on this software firm?

KPIT Technologies share price: Brokerage firm Goldman Sachs is bullish on KPIT Technologies as the company is prioritising Electric Vehicles and autonomous vehicle research and development, despite the current macro environment.

The report further stated that the original equipment manufacturer has the ability to win entire vehicle platform projects vs single programs of earlier. 

Goldman Sachs in the report said that the software company focused largely on lateral hiring on senior architect level. It said that KPIT Technologies is supporting deeper client relationships and criticality. 

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Brokerage sees a longer duration of demand vs general IT services pointing to a sustainable period of high organic growth.

Goldman Sachs' Call:

Meanwhile, shares of software company KPIT Technologies gained nearly 2 per cent in the early trade but paired gains. The counter opened at Rs 710.50 apiece and quoted Rs 708.80 apiece which was 0.63 per cent on the upside on NSE at the time of filing this report. On BSE the scrip traded at Rs 707.65. 

The 52-week range of the stock is Rs 801 - Rs 440.40. On Intraday basis the stock recorded a high of Rs 729.55 apiece. Year To Date (YTD) the stock has climbed over 17 per cent and in the past six months has surged by a whooping 50.12 per cent. 

KPIT Technologies Ltd is a global technology company specialising in providing IT Consulting and Product Engineering solutions and services to Automotive, Manufacturing, Energy, and Utilities companies. Geographically, it derives a majority of revenue from the Americas.

The software company has a market cap of Rs 19,515 crore.

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