KPIT Technologies share price jumped 5 percent upper circuit in the morning trade on May 29 after CLS Investments LLC had bought 19,99,998 shares at Rs 46.91 per share as per data available on the NSE.
The stock price jumped 20 percent in the last five days and was quoting at Rs 49.20, up Rs 2.30, or 4.90 percent. There were pending buy orders of 1,070,475 shares, with no sellers available.
The tech firm on May 27 reported a 23.3 percent rise in consolidated net profit to Rs 38.1 crore in March 2020 quarter. This is against a net profit of Rs 30.9 crore in the year-ago period, KPIT said in a regulatory filing.
Its revenue from operations stood at Rs 556.2 crore in the reported period, up 10.9 percent from Rs 501.2 crore in the March 2019 quarter, it added.
According to Moneycontrol SWOT Analysis powered by Trendlyne, KPIT Tech has decreasing promoter pledge with annual net profits improving for last 2 years. The company has low debt with promoters increasing shareholding.
However, Moneycontrol technical rating is neutral with moving average being bullish and technical indicators being neutral.