KPIT Tech is buzzing with trade as Goldman Sachs has given a buy rating on the stock with a target price of Rs 1040.
KPIT is an IT company that serves automobile companies and is present in new age technology, also known as CASE (Connected, Autonomous, Shared and Electric).
According to Goldman Sachs, R&D spending by automobile companies on CASE technology is expected to triple to US$ 61 billion over the next 5 years and KPIT Tech is best positioned to help these companies accelerate their transition.