Momentumisers: Here’s why KPIT Tech shares have been rising
KPIT Technologies made a lifetime high yesterday, December 28. It was up 4.5 percent. In fact, in the last six days, it has moved up 27 percent.
KPIT Technologies made a lifetime high yesterday, December 28. It was up 4.5 percent. In fact, in the last six days, it has moved up 27 percent.
In the last three days, volumes also surged at around 1.7 times compared to the one-month averages. Similarly, deliverable volumes also stand at 1.3 times compared to one month.
In the near term, its support currently stands at around Rs 511 at three day low and the next support comes in at a 20-day moving average, which is Rs 505.
The reason behind the surge in KPIT Technologies, of late, has been the anticipated accelerated adaption of digitalisation among its clients and there has been a lot of talk and anticipation when it comes to opportunities in the electric vehicle space, which is another factor that is pushing the stock upwards.
Also Read: KPIT Tech sees growth in fixed price contracts; says offshoring, operational efficiency aided margin
Watch the accompanying video of CNBC-TV18’s Agam Vakil for more details.
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