Tuesday, 30 January 2018

KPIT Technologies gains 7 pct post merger with Birlasoft:: Share trading tips

Share trading tips
Shares of KPIT Technologies gained around 7 percent after the company announced a merger with Noida based Birlasoft India Limited.

The BoD of KPIT Technologies Ltd  at its meeting held on  Monday 29 January, 2018 have, approved the Draft Scheme amalgamation Birlasoft with the Company and demerger of the engineering business of the Company into KPIT Engineering Limited to be renamed as KPIT Technologies Limited.

As per Axis Capital, the deal values Birlasoft merger as neutral for the company and the deal values Birlasoft at par with KPIT Technologies in spite of strong growth.

Shares of KPIT Technologies Limited was last trading, post lunch hours, Tuesday, in BSE at Rs.219.35 up Rs 10.10, or 4.83 with reference to the previous close of Rs. 211.35.  Shares of KPIT Technologies touched a 52-week high of Rs. 223.30.

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