One of the favorable stocks of retails investors KPIT Technologies reported a good Q1 FY23 results for the quarter ending June 2022 on 26th July 2022. Although the results are good but the market was not much more excited and the stock movement is overall flat after the results.
Table of Contents
- KPIT Technologies Q1 results FY23 – Quarter ending June 2022
- About KPIT Technologies (KPITTECH) Stock
- KPIT Technologies share price
- KPIT Technologies chart pattern
- Multibagger Stocks for 2022 – KPITTECH
KPIT Technologies Q1 results FY23 – Quarter ending June 2022
Company’s revenue has increased 21% year on year and 5% quarter on quarter, whereas the net profit jumped more than 46% year on year and flat 9% quarter on quarter and its profit margin also increasing. The result is showing consistent growth despite the various global uncertainties during the last few months.
About KPIT Technologies (KPITTECH) Stock
KPIT Technologies Ltd. is a global IT Software & Engineering Services provider. It works in the field of next generation mobility solutions, embedded software, Artificial intelligence and digital solutions. It has engineering centers in Europe, USA, Japan, China, Thailand, and India & KPIT works with leaders in automotive and mobility and more than 75% of its revenue comes from passenger vehicle segments, hence it would be a major beneficiary of electrical vehicle theme in India.
KPIT Technologies share price
KPIT Technologies and is a small cap stock with market capitalization of around Rs.14,000. Crore. Its current share price is at Rs.537 which is more than 28% below its recent 52 week highs of 800. The PE (Price to Earnings ratio) is at 49 that is in line with the sector PE and not expensive at this point.
KPIT Technologies chart pattern
If we look at the candlestick chart of KPIT, the stock is running above its 200 Day EMA and near its 20 day & 50 day exponential moving average and is showing breakout of its short term resistance line. RSI is at 58 and MACD is above its baseline, which indicates the stock is gaining its strength and if it sustain above the resistance zone of 500 to 530 then it may gain good momentum in short term.
[The chart we have presented here is on Upstox web platform. We personally use Zerodha & Upstox for investing and trading in Indian stock market.]
Multibagger Stocks for 2022 – KPITTECH
KPITTECH is a small cap IT stock that has given a return of more than 76% in the last year despite the current fall of roughly 30% and given nearby 400% multi-bagger return in past three years after its listing in 2019. Although FII & DIIs are already holding a good stake of nearby 16% & 10% respectively and promoters have more than 40% of total shareholding pattern, It becomes popular among the retail investors in recent months after sudden jump in stock price and due to demand in electrical vehicles.
And as per the fundamentals and future business growth prospects of KPIT Technologies, it has immense growth potential as the use of IT technology engineering services is rising in the electrical vehicle sector and has much more demand growth opportunities in future.
Disclaimer : All the information and data provided here are for educational purposes only and not any type of buy or sell recommendation. Please make you own study and analysis or consult your financial advisor before taking any decision.
