Here's why KPIT Tech is buzzing in trade

KPIT Tech is buzzing in trade as Goldman Sachs gave a buy rating on the stock with a target price of Rs 1040.

KPIT is an IT company catering to automobile companies and is present in new age technology, also known as CASE (Connected, Autonomous, Shared and Electric).

According to Goldman Sachs, R&D spend by automobile companies on CASE technology is expected to triple to USD 61 billion in next 5 years and KPIT Tech is best positioned to help these companies accelerate their transition.