KPIT Tech stock hits 52-week high after Goldman Sachs revises share price target

Goldman Sachs maintained a 'buy' rating on the IT firm and raised its share price target to Rs 1,420 from Rs 1,270.

The stock that closed at Rs 1,164.50 on Tuesday started its journey at Rs 1,175.10 on Wednesday and touched the 52-week high of Rs 1,234.50 within half an hour of market opening. Photo: File/Representational

KPIT Tech Share Price: Shares of software and consulting company KPIT Tech hit a 52-week high of Rs 1,234.50 on BSE on Wednesday (October 11) after Goldman Sachs maintained a 'buy' rating on the IT firm and raised its share price target to Rs 1,420 from Rs 1,270.

The stock that closed at Rs 1,164.50 on Tuesday started its journey at Rs 1,175.10 on Wednesday and touched the 52-week high of Rs 1,234.50 within half an hour of market opening.

At the time of writing this news, KPIT Tech shares were flying higher by 3.75 per cent, or Rs 43.70, at Rs 1,208.20.

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How KPIT shares have performed in one year

The boost on Wednesday helped the stock rise 6.22 per cent in the last five trading sessions. It has jumped 4.51 per cent in the last one month, skyrocketed 45.61 per cent in the six-month period, soared 74.99 per cent year to date, and gained 88.96 per cent in the last one year.

The stock has outsmarted the Nifty 50 benchmark, which has risen 1.60 per cent in the last five trading sessions, declined 0.80 per cent in the one month, soared 11.93 per cent in the six-month period, risen 9.01 per cent year to date, and skyrocketed 16.80 per cent in the last one year.

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