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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