KPIT Tech stock crashes 17% after Q1 outlook trimmed
Shares of KPIT Technologies plunged 16.97% to Rs 557.50 on the BSE on Wednesday, a day after the company cut its Q1FY27 revenue and profit guidance, citing spending cuts by European automotive OEMs, including Volkswagen and BMW.
The stock, which hit a 52-week low of Rs 555.30, came under further pressure after JP Morgan and JM Financial downgraded it. BMW contributes about 12% of KPIT’s revenue.
