Goldman Sachs Starts Coverage With A Buy On KPIT Technologies

Goldman Sachs initiated coverage on KPIT Technologies Ltd. with a ‘buy', 

citing potential demand from electric vehicle and semiconductor makers.

Goldman Sachs set KPIT Technologies' price target at Rs 1,040, representing a 74.9 percent annual increase.

On Thursday, the stock rose as much as 2.99 percent. 

They were 1.48 percent higher at 1 p.m., versus a 1.2 percent decline in the Nifty 50.

According to Bloomberg, six of the company's eight analysts recommend 'buy' and two recommend 'hold'. 

The average price target suggests a 14.2% drop.

In an interview with BloombergQuint's Niraj Shah, Ravi Pandit, chairman of KPIT Technologies, said that 

battery and hydrogen fuel cell vehicles will be India's future mobility choice.