KPIT Technologies' Share Price Declines Amid Business Environment Uncertainties

KPIT Technologies Ltd.'s share price dropped by over 5% on Tuesday. This decrease followed the company's mid-quarter update, which highlighted ongoing uncertainties in the business environment.

The scrip fell as much as 5.39% to Rs 1,315.40 apiece. It pared losses to trade 5.31% lower at Rs 1,316.50 apiece, as of 09:59 a.m. This compares to a 0.88% advance in the NSE Nifty 50.

It has fallen 18% in the last 12 months. Total traded volume so far in the day stood at 7.5 times its 30-day average. The relative strength index was at 43.

Out of 21 analysts tracking the company, 15 maintain a 'buy' rating, four recommend a 'hold' and two suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 5.5%.