2000 per cent returns: This multibagger stock witnessed heavy buying in today’s session to make a new 52-week high!

Moreover, the stock has zoomed more than 100 per cent in the last 1 year

On Wednesday, shares of KPIT Technologies zoomed more than 6 per cent to trade at a new 52-week high of Rs 1073 apiece on BSE. The scrip witnessed a massive spurt in volume by more than 3.2 times and closed 5.11 per cent up at Rs 1063.20 per share on BSE.

In Q4FY23, the company’s net sales rose 56.09 per cent from last year’s same quarter to Rs 1017.37 crore. The EBITDA level stood at Rs 188.56 crore, witnessing a growth of 40.25 per cent from March 2022 quarter. Net profitability of the firm shot up by more than 41 per cent from the corresponding quarter last year to Rs 111.60 crore.

Interestingly, the company recently announced its alliance with Honda to accelerate software-defined mobility (SDM) journey. The partnership will expand to over 2000 software system professionals to power Honda’s SDM roadmap until year 2030 and beyond.

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KPIT is a global technology company with software solutions that will help mobility leapfrog towards autonomous, clean, smart and connected future. The company was formed by a three-step complex deal between KPIT Technologies Ltd and CK Birla Group's Birlasoft. KPIT is a leading software integrator covering prototype development, actual software development, validation and testing.

The stock has witnessed heavy buying as it has given multibagger returns of more than 2000 per cent in just 3 years. Moreover, the stock has zoomed more than 100 per cent in the last 1 year. Keep a close eye on this trending multibagger stock.