Last Updated : Nov 11, 2020 09:45 AM IST | Source: Moneycontrol.com

KPIT Tech share price jumps 6% on bagging order from BMW Group

As part of the strategic collaboration, KPIT has been nominated as the single source software integration partner for the next generation 11KW combined charging electronics program powering the upcoming BEV’s of BMW Group.

 
 
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KPIT Technologies share price jumped over 6 percent at open on November 11 after the company bagged large deal from the BMW Group.

KPIT Tech announced signing of a large-scale order with BMW Group. The series order is spread over several years. The combined powertrain coordination unit is designed to power the next generation power electronics architecture of BMW Battery Electric Vehicles (BEV’s) and involves software development, integration, and maintenance, the company said in an exchange filing.

"The integrated charger unit is an onboard charger that is combined with the vehicle control unit. As part of the strategic collaboration, KPIT has been nominated as the single source software integration partner for the next generation 11KW combined charging electronics program powering the upcoming BEV’s of BMW Group," the company said.

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"MicroFuzzy and KPIT will perform the role of a strategic software partner and will be responsible for complete development, integration, validation and series software maintenance, to accelerate the technologies a future electric vehicle requires," it said.

"We are very happy to see the foresight of BMW Group towards investing in vehicle electrification programs that will have long reaching impact. We are happy to broaden our existing partnerships with BMW Group, and reinforce our offering as a software integration partner," said Kishor Patil, CEO of KPIT Technologies.

The stock was trading at Rs 98.80, up Rs 4.30, or 4.55 percent at 09:25 hours. It has touched an intraday high of Rs 102 and an intraday low of Rs 98.70.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has strong cash generating ability from core business - improving cash flow from operation for last 2 years with FII / FPI or institutions are increasing their shareholding.

Moneycontrol technical rating is neutral with moving averages being bullish and technical indicators being neutral.

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First Published on Nov 11, 2020 09:45 am
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