Multibagger Stocks: Stock or Rocket! Stock of this company has zoomed over 1,200 percent in three years

New Delhi: There has been a lot of upheaval in the stock markets for the last few days. After five consecutive days of decline, the domestic stock markets closed with a slight rise on Thursday. On Friday, the markets returned in true sense. But due to the deepening crisis in America and Europe, there is a possibility of continuing turmoil in the stock market in the coming days as well. Meanwhile, the stock of IT company KPIT Technologies (KPIT Technologies) rose seven percent during trading on Friday. It had reached Rs 874.95 on BSE. It finally closed at Rs 870.15, up 6.72 per cent. Its 52-week high is Rs 876, which it touched a month back.

In the last three years, the shares of this company have gained 13 times. During this period, the stock has gained 1248 per cent while the BSE Sensex has gained 89 per cent. Two days ago, the company had announced a partnership with Honda. In the October-December quarter, the company’s revenue grew by 47.4 per cent over the previous year. Most of the company’s revenue comes from innovative technology. Experts say that auto companies are increasing investment in new-age technology and KPIT is the leading company in this.

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How far can the price reach

Companies have not yet fully recovered from the impact of Corona and have worsened the situation in the banking sector crisis. For this reason, companies are reducing spending on technology or delaying the tech budget. Despite this, no major client of KPIT has backed out from the order. The company is well positioned to leverage its software designed vehicle program through organic and inorganic routes. With this, the company’s stock can go up to Rs 923 in the short term.

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