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This stock has made investors rich by giving 145% return in this year, do you have it?

Multibagger Stock Tips: KPIT Technologies has reported a strong earnings for the quarter ended September. In fact, the tech firm’s consolidated net profit doubled (₹65 crore) from ₹27 crore in the year-ago period. Shares of KPIT Tech have given multibagger returns of around 145% this year.

Brokerage firm Anand Rathi expects the multibagger stock to move higher after its Q2 results. The brokerage has maintained its ‘Buy’ rating with a target price of ₹400 per share. According to the brokerage firm, KPIT Tech’s revenue growth was in line with the estimates and high growth can be expected. However, the brokerage firm T-25 sees sluggishness in clients as a major risk.

KPIT Tech’s revenue from operations stood at ₹590.8 crore in the quarter under review, as against ₹485.4 crore in the July-September 2020 period. The company has increased its revenue growth outlook for FY 2022 to 18-20%.

The brokerage said the company’s margins during the second quarter were supported by better realizations, lower sub-contracting costs and higher efficiencies (offshore and utilization). Management expects 17.5% + FY22 margin on continued operating leverage.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

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