Buy KPIT Cummins With Stop Loss Of Rs 155

Buy KPIT Cummins With Stop Loss Of Rs 155Stock market analyst Sudarshan Sukhani has maintained 'buy' rating on KPIT Cummins Infosystems Limited stock to achieve a target of Rs 170.

The strict stop loss for the stock will be Rs 155.

The stock of the company, on Sep 20, marked its closure at Rs 160.60 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 192.90 and a low of Rs 72 on BSE.

IT company KPIT Cummins Ltd is eyeing to be a $500-million firm by the next three years (2013).

The Pune-based product engineering and IT services company would increase its present revenue base by three times, which is $154 million in the fiscal 2010.

Mr. Girish Wardadkar, president and executive director of KPIT Cummins, stated that the company's dependency on the US is projected to descend from around 63% to less than 55%.

Mr. Wardadkar added that the company dependence on the European market will go up in the coming time.

The company declared de-growth of 6.48% in its net profit for the three month period, which ended on June 30.

The company's net profit in April-June period stood at Rs 149 million.

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