1,200 per cent returns: This multibagger stock surged by more than 5 per cent and traded on its new 52-week high!

The company has delivered stellar returns of 116 per cent over the past year and returns of 1,255 per cent over the past 3 years.

KPIT Technologies Ltd is a renowned worldwide technology firm offering software solutions designed to propel mobility towards a future characterized by autonomy, sustainability, intelligence, and connectivity. With a vast team of over 10,000 Automobelievers scattered globally, KPIT specializes in embedded software, AI, and digital solutions, providing clients with the means to expedite the integration of advanced mobility technologies. Boasting development hubs in Europe, the USA, Japan, China, Thailand, and India, KPIT is uniquely positioned to drive innovative advancements in the realm of mobility.

KPIT Technologies Ltd recently announced their Q1FY24 results in which sales of the company grew by 60 per cent and stood at Rs 1,098 crore as against to Q1FY23, while operating profit of the company surged by 60 per cent to Rs 214 crore as compared to Q1FY23. Similarly, net profit of the company jumped by 52 per cent and stood at Rs 134 crore as against to Q1FY23. Furthermore, the company has been able to grow its sales by 16 per cent (CAGR) over the past 3 years and net profit has grown by 35 per cent (CAGR) for the same period.

The company has delivered stellar returns of 116 per cent over the past year and returns of 1,255 per cent over the past 3 years. Additionally, the company has a ROCE of 30.4 per cent and a ROE of 25.7 per cent.

On Wednesday, shares of the company surged by over 5 per cent and traded at its new 52-week high of Rs 1,200. Additionally, the scrip had a spurt in volume by more than 4.46 times.

Investors should keep a close eye on this buzzing stock.

Disclaimer: The article is for informational purposes only and not investment advice.