Heavy buying witnessed: This stock surges more than 9.5 per cent to make a new 52-week high!

The stock has witnessed heavy buying as it has surged more than 45 per cent in the last 6 months and more than 24 per cent in 1 year

On Thursday, shares of KPIT Technologies zoomed more than 9.5 per cent to make both, an intraday high and 52-week high of Rs 812.80 apiece. The scrip witnessed a massive spurt in volume by more than 1.51 times and closed 6.44 per cent up at Rs 789.95.   

In Q3FY23, the company’s sales rose 47.36 per cent from last year same quarter to Rs 917.12 crore in the quarter ended December 2022. Net profitability of the firm shot up by more than 43 per cent from the corresponding quarter last year to Rs 100.49 crore. The Board of Directors, at the meeting held on January 31, 2023, has approved the payment of an Interim Dividend of Rs 1.45 per share.  

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 services are categorized into feature development & integration, architecture consulting & middleware and cloud-based connected services.  

The stock has witnessed heavy buying as it has surged more than 45 per cent in the last 6 months and more than 24 per cent in 1 year. Keep a close eye on this trending stock.