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Nirmal Bang Report
In its latest report, Nirmal Bang Institutional Equities' has maintained its 'Hold' rating on the automotive software company KPIT Technologies Ltd. with a target price of Rs 672, implying an upside of 13.7% from the current market price of Rs 591 as the brokerage remains cautious about the company's near-term growth trajectory.
The brokerage highlights that global slowdown in the automotive sector has impacted KPIT's performance in the recent past and believes that revenue and margin pressure will continue, with any material recovery only in FY28.
Globally, OEMs are also under pressure due to supply chain issues and competitive intensity from Chinese OEMs.
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