KPIT Technologies surges on getting nod for initial strategic acquisition of 13% shareholding in N-Dream AG
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KPIT Technologies is currently trading at Rs. 1349.00, up by 33.05 points or 2.51% from its previous closing of Rs. 1315.95 on the BSE.
The scrip opened at Rs. 1310.05 and has touched a high and low of Rs. 1357.90 and Rs. 1310.05 respectively. So far 49693 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1,357.90 on 10-Nov-2023 and a 52 week low of Rs. 623.00 on 23-Dec-2022.
Last one week high and low of the scrip stood at Rs. 1357.90 and Rs. 1246.05 respectively. The current market cap of the company is Rs. 37091.66 crore.
The promoters holding in the company stood at 39.47%, while Institutions and Non-Institutions held 37.93% and 22.59% respectively.
KPIT Technologies (KPIT) has received approval for initial strategic acquisition of 13% shareholding in N-Dream AG (N-Dream), a Cloud based Game Aggregation Platform company, based in Switzerland, with an option to increase the shareholding further. This strategic investment in N-Dream is part of KPIT’s roadmap to enable Automotive OEMs enhance the driver & passenger experience in the Cockpit of the Future. KPIT will offer complementary software integration & validation services to N-Dream’s Automotive clients. Both parties will collaborate towards offering value added data products for Automotive OEMs, thereby enabling them to create additional monetizable experiences & features. Acquisition of 13% shareholding will be completed by December 15, 2023. The Board of Directors of KPIT Technologies at its meeting held on November 09, 2023 has approved the same.
KPIT is a global technology company with software solutions that will help mobility leapfrog towards an autonomous, clean, smart and connected future.
