Sharemasterindia.com: KPIT Technologies shares plunged as much as 14 per cent on Thursday to hit a new 52-week low of Rs 85.05.
KPIT Technologies shares also saw a spurt in volume with 6.42 lakh shares traded on the BSE in early trade as compared to a 2-week average of 1.26 lakh.
At 9:45 a.m., shares of KPIT Technologies were down 10.5 per cent to Rs 88.70 as compared to a flat Sensex.
KPIT Technologies shares had taken a big beating after it had announced Q4 earnings in April. KPIT Technologies shares had plunged over 30 per cent in two days (April 29-30) after its Q4 earnings disappointed investors. In Q4, KPIT reported a 23 per cent sequential decline in net profit at Rs 50.3 crore; sales dipped 2.2 per cent sequentially to Rs 763 crore.
Shares of another mid-tier IT company Persistent Systems had plunged 12 per cent on Wednesday after it warned about its April-June quarter results.
Persistent Systems shares were down 2.5 per cent today at Rs 613.
