KPIT Promoters Increase their stake in the company by 2.22%

KPIT (BSE: 532400; NSE: KPIT), product engineering and IT consulting partner to Automotive, Manufacturing and Energy companies, announced today that the promoters of KPIT today purchased 4,375,452 shares of KPIT through Proficient Finstock LLP (Proficient) taking the total Promoter holding in the company to 18.94%.

To fund the above transaction, Proficient has additionally pledged 12,000,000 shares taking the total pledged shares of Proficient to 14,305,555 (50% of Proficient holding).

The promoters and the company remain positive about the future outlook of the company.

Shares of KPIT Technologies Limited was last trading in BSE at Rs.130.1 as compared to the previous close of Rs. 132.15. The total number of shares traded during the day was 4510259 in over 1460 trades.

The stock hit an intraday high of Rs. 135 and intraday low of 129.8. The net turnover during the day was Rs. 607301161.

Source : Equity Bulls

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