After announcing a partnership with the Renault Group, this technology stock increased by 7%

After announcing a partnership with the Renault Group, this technology stock increased by 7%

by 5paisa Research Team Last Updated: Dec 11, 2022 - 09:43 pm 9.1k Views
Listen icon

KPIT Technologies accelerates its relationship with Renault Group.

KPIT Technologies closed trading at Rs 726.95, up by 43.65 points or 6.39% from its previous closing of Rs 683.30 on the BSE.

The scrip opened at Rs 689.95 and touched a high and low of Rs 735.00 and Rs 685.50, respectively. The BSE group 'A' stock of face value of Rs 10 has touched a 52-week high of Rs 800.00 and a 52-week low of Rs 423.25.

KPIT Technologies has been selected by Renault Group as a strategic software scaling partner for next-generation SDV programs. Renault Group is making significant investments and strategic partnerships to develop an industry-leading SDV platform. This platform will drive Renault Group's global growth over the following decades by delivering unmatched experience to end consumers and unlocking monetization over the length of vehicle ownership.

KPIT's two decades of experience in automotive and mobility software, cross-domain competencies, global scale, and ecosystem of alliance partners, along with the expertise in developing SDV roadmaps for several industry leaders, makes them best poised to contribute to Renault Group's vision. KPIT's global footprint, combined with access to a talent pool and robust training programs, will create the desired scale the program demands. Renault Group expects the SDV technology programs to drive value to its roadmap of vehicle production programs that will start in 2026.

KPIT is a global technology company with software solutions that will help mobility leapfrog towards an autonomous, clean, smart and connected future.

The promoters holding in the company stood at 40.11%, while Institutions and Non-Institutions held 30.40% and 29.49% respectively.

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Paytm Share Price Surge 5% After Discontinuing Inter Company Pacts with PPBL

At 2.25 pm today, shares of One97 Communications the parent company of the renowned Paytm brand surged by 5% reaching ₹423.45.

NTPC Enters JV Agreement with Maharashtra State Power Generation

NTPC Green Energy Limited, a subsidiary of NTPC Limited, has partnered with Maharashtra State Power Generation Company Limited (MAHAGENCO) to lead the development of renewable energy parks in Maharashtra.

Happiest Minds Partners with Secureworks for Advanced XDR Services

Happiest Minds Technologies has recently announced its collaboration with the Secureworks Global MSSP Partner program to address the escalating need for Extended Detection and Response (XDR) services worldwide.