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Indian markets decline as Tata Motors and Nestle India shine among gainers

Indian equity markets closed lower on January 3, with the Sensex dropping 720.60 points to 79,223.11 and the Nifty falling 184 points to 24,004.75. Tata Motors and Nestle India were the top gainers, while Zomato and HDFC Bank led the losses. Market sentiment remains cautious amid concerns over slowing growth and foreign fund outflows.

KPIT Technologies Target Price Set at Rs 1760 by Geojit Financial Services

Geojit Financial Services has given a "Buy" rating for KPIT Technologies, setting a target price of ₹1,760. The company is expected to achieve a revenue and PAT CAGR of 19% and 20% respectively from FY25E-FY27E, driven by strong deal wins and strategic growth in the mobility sector. Despite recent investments, EBITDA margins are projected to stabilize at 20-21%, supported by a favorable currency mix and volume growth.

NSE adds 45 new stocks to futures and options trading segment

The National Stock Exchange (NSE) has expanded its futures and options (F&O) segment by adding 45 new stocks, effective November 29, 2024, increasing the total to 223. This inclusion, following SEBI’s revised criteria, aims to enhance liquidity and market participation, featuring notable stocks like LIC, Jio Financial Services, and Zomato. Analysts anticipate that this move will boost trading volumes and improve price discovery for these stocks.

JPMorgan forecasts ER&D growth revival amid telecom sector challenges

JPMorgan anticipates a revival in Engineering Research & Development (ER&D) growth by 2025, driven by a recovery in the automobile sector, despite ongoing challenges in telecom that may limit valuation upside. The firm favors KPIT Tech and Persistent Systems for their strong growth potential, assigning target prices of Rs 1,900 and Rs 6,100, respectively, while also highlighting L&T Technology Services and Cyient as key recovery plays.

KPIT Technologies maintains growth trajectory with revised target price of 1760

Anand Rathi has upgraded KPIT Technologies to a Buy rating with a target price of Rs 1,760, reflecting a decrease from Rs 2,000. The company reported a 4.7% quarter-on-quarter revenue growth and signed new TCV of $207 million, despite a decline in LTM figures. Management remains optimistic about revenue guidance and a strong deal pipeline, while plans for raising Rs 28.8 billion for inorganic growth are underway.

kpit tech shares plunge 15 percent after jpmorgan cuts target price

Shares of KPIT Technologies plummeted 15% on October 24 after JPMorgan cut its target price to Rs 1,900, citing a revised FY25 revenue growth outlook at the lower end of the 18-22% range due to delays in deal ramp-ups. The brokerage warns that this guidance cut could lead to a weaker H2FY25 and impact FY26 growth. As of 12:23 PM, KPIT Tech's stock was down 13.5% at Rs 1,414, marking its fifth consecutive session of decline and a drop of over 5% since the start of 2024, underperforming the Nifty 50's 12% gain.

KPIT raises 2880 crore through QIP as revenue grows 8 percent

KPIT's board has approved a fundraise of Rs 2,880 crore through a qualified institutions placement (QIP). For the quarter ending September 30, 2024, the company reported a flat consolidated net profit of Rs 204 crore, with an 8% increase in revenue to Rs 1,471 crore compared to the previous quarter. EBITDA rose 4% to Rs 301 crore, while the EBITDA margin decreased to 20.5%.
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