KPIT Technologies gains on securing large deal from BMW Group

Leading independent software development & integration partner to the automotive industry, KPIT Technologies announced during today’s pre-trading session that it has received a significant strategic large deal from BMW Group. Reacting to this, the company’s share opened 7.9 per cent higher than its previous close on BSE.

The order is for the next generation charging electronics program spread over several years. The strategic collaboration includes software development and integration. It also covers maintenance of the combined powertrain coordination units including charging control.

MicroFuzzy and KPIT together will execute this strategic software program representing the first step for BMW Group in establishing strategic software development partners for automotive software.

KPIT Technologies Limited, a global technology company that provides software solutions would help mobility leapfrog towards an autonomous, smart, and a connected future. The company’s product wise revenue mix stands at 93 per cent from product engineering services and 7 per cent from product organisation.

At around 2.34 pm, the share was trading up by 3.17 per cent at Rs 97.5. The share opened at Rs 102, which is also its intraday high on BSE. In comparison, S&P BSE SENSEX went up by 0.68 per cent.