KPIT Share Price at Rs 530.25 on 30 October 2026: Anand Rathi Upgrades the IT Stock to Buy With a KPIT Target Price of Rs 701 After KPIT Q2 Results, About 32% Upside
- October 30, 2026
- Posted by: Kunal Singla
- Category: Results
KPIT share price Rs 530.25 (30 Oct close), down 2.47%. Anand Rathi Buy, target Rs 701, about 32% upside. Q2 revenue Rs 1,691 crore, up 6.5%. PAT Rs 121 crore, down 28.7%.
Quick Answer
KPIT share price is Rs 530.25 on the NSE at 3:35 PM on 30 October 2026, down 2.47% on the day, and Anand Rathi has upgraded KPIT Technologies to Buy with a target price of Rs 701, which implies about 32% upside from the current level. The upgrade followed KPIT Q2 results that showed rupee revenue up 6.5% year on year and 1% sequentially to Rs 1,691 crore, EBITDA margin up 60 basis points quarter on quarter to 17.8%, and new deal wins of USD 213 million, even though net profit fell 28.7% year on year to Rs 120.6 crore. The brokerage expects a product-led model and lower dependence on two large automotive clients to drive profit growth of over 25% a year through FY27 to FY29, while JPMorgan is more cautious with a Neutral rating and a Rs 520 target.
The KPIT share price closed the week at Rs 530.25 on 30 October 2026 after the KPIT Q2 results, and the stock is now the subject of one of the more aggressive brokerage calls of the Q2 results season: Anand Rathi has upgraded KPIT Technologies to Buy with a KPIT target price of Rs 701, an upside of about 32% from the current level, a day after the KPIT Q2 results. The KPIT share price fell 2.47% on Friday, which widened the gap between the market price and the target.
This article covers what the KPIT Q2 results showed, why Anand Rathi is bullish when the headline profit fell 28.7%, what the KPIT target price rests on, how it compares with JPMorgan’s more cautious view, and the risks that could stop the KPIT share price from closing the gap to Rs 701.
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KPIT Share Price Today: Key Data on 30 October 2026
The KPIT share price opened at Rs 544 on the NSE two days after the KPIT Q2 results, touched a high of Rs 548 and slid through the session to close at the day’s low of Rs 530.25, down Rs 13.45 or 2.47% from the previous close of Rs 543.70. Volume was 12.38 lakh shares on the NSE. The fall came on a day when the Nifty IT index rose 2.32%, so the KPIT share price underperformed its sector sharply as investors digested the profit decline in the KPIT Q2 results rather than the brokerage upgrade.
| Metric | Value (30 October 2026) |
|---|---|
| NSE symbol | KPITTECH |
| KPIT share price (close) | Rs 530.25 (down 2.47%) |
| Day's range | Rs 530.25 to Rs 548 |
| Previous close | Rs 543.70 |
| Market capitalisation | Rs 14,900 crore |
| P/E ratio (TTM) | 27.93 |
| Industry P/E | 18.92 |
| P/B ratio | 4.04 |
| Dividend yield | 1.37% |
| Anand Rathi KPIT target price | Rs 701 (Buy, 29 October 2026) |
| Implied upside from Rs 530.25 | About 32% |
| JPMorgan target price | Rs 520 (Neutral) |
Source: NSE, BSE and brokerage reports. Prices are as of 3:35 PM IST on 30 October 2026. Upside is calculated from the closing price.
KPIT Q2 Results: Revenue Up, Profit Down, Margin Recovering
The KPIT Q2 results for the quarter ended 30 September 2026, announced on 28 October and the trigger for the Anand Rathi upgrade, showed consolidated revenue from operations of Rs 1,690.97 crore, up 6.5% year on year in rupee terms and 1% quarter on quarter. In dollar terms revenue was USD 176.8 million, down 2.2% year on year, while constant currency revenue grew 0.2% year on year and 0.5% sequentially. Net profit attributable to owners fell 28.7% year on year to Rs 120.61 crore, though it rose 3.4% from the June quarter.
| KPIT Q2 results metric | Q2 FY27 | Q1 FY27 | Q2 FY26 |
|---|---|---|---|
| Revenue from operations | Rs 1,690.97 crore | Rs 1,674.99 crore | Rs 1,587.71 crore |
| Revenue (USD) | USD 176.8 million | Down 2.2% YoY | |
| Constant currency growth | Up 0.2% YoY, up 0.5% QoQ | ||
| EBITDA | Rs 275.40 crore | ||
| EBITDA margin | 17.8% (up 60 bps QoQ) | 17.2% | 20.3% |
| EBIT margin | 12.7% | ||
| Net profit | Rs 120.61 crore (up 3.4% QoQ) | Rs 169.09 crore | |
| New engagements (TCV) | USD 213 million |
Source: KPIT Technologies Q2 FY27 results release and exchange filing dated 28 October 2026. The EBITDA margin of 17.8% is still 250 basis points below the year-ago level, which explains the profit decline, but the sequential improvement is what the Anand Rathi upgrade and the KPIT share price recovery case are built on.
What Drove the Quarter
Growth in the KPIT Q2 results, and the sequential growth that kept the streak alive, came from trucks and off-highway vehicles, where commercial vehicle revenue rose 27.3% year on year to USD 39.98 million, from the United States, where revenue grew 25.9%, and from connected vehicle and aftersales services, where cloud-based connected services grew 19.6% to USD 47.50 million. Those gains in the KPIT Q2 results offset a roughly 13% year on year revenue decline in KPIT’s two largest accounts, both European passenger vehicle makers under cost pressure. Management said the decline in those two accounts should bottom out over the next couple of quarters.
The Soft Spots
The weak areas in the KPIT Q2 results were the UK and Europe, losses at the Qorix software joint venture, and a lower EBITDA margin than a year ago because of higher employee costs, depreciation and finance costs. The company also announced a USD 2 million investment in a wholly owned subsidiary in Vietnam, a small step in diversifying its delivery base. Sequential growth of 1% in rupee revenue and 0.5% in constant currency is modest, but it kept the quarter-on-quarter growth streak intact at a time when several mid-cap IT peers reported sequential declines, which is one reason the KPIT share price has held up better than some peers this year.
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Why Anand Rathi Upgraded KPIT to Buy With a Rs 701 Target Price
Anand Rathi upgraded KPIT Technologies to Buy on 29 October 2026 with a KPIT target price of Rs 701 because it believes the company’s shift to a product-led business model and its reducing reliance on two large automotive clients will drive profit growth of more than 25% a year over FY27 to FY29. The brokerage pointed to strong deal wins in automotive software, with USD 213 million of new engagements in Q2, as evidence that the pipeline is broadening beyond the troubled European accounts.
The KPIT target price of Rs 701 is about 32% above the 30 October close of Rs 530.25. Some reports described the upside at about 25% when the call was published on 29 October; Friday’s 2.47% fall in the KPIT share price has widened it to about 32%. The upgrade is the second bullish Anand Rathi call on an IT stock this month, after the brokerage raised HCLTech to Buy on 13 October with a Rs 1,435 target following its Q2 beat.
| Brokerage | Rating | KPIT target price | Key argument |
|---|---|---|---|
| Anand Rathi | Buy (upgraded 29 Oct 2026) | Rs 701 | Product-led model, client diversification, 25% plus profit growth FY27 to FY29 |
| JPMorgan | Neutral (upgraded from Underweight) | Rs 520 | Stabilising margins, but limited near-term upside |
The two calls bracket the debate on the KPIT share price. JPMorgan’s upgrade from Underweight to Neutral after the KPIT Q2 results acknowledges that the worst of the margin contraction may be over, but its Rs 520 target sits slightly below the current KPIT share price. Anand Rathi’s Rs 701 target assumes the margin recovers towards historical levels, sequential growth continues, and the automotive software demand cycle turns up again.
KPIT Share Price Valuation After KPIT Q2 Results: Is 28 Times Earnings Justified?
At Rs 530.25 the KPIT share price trades at a trailing P/E of about 28 times against an industry P/E of 18.9, and at 4 times book value. That premium on the KPIT share price made sense when KPIT was growing revenue at 20% plus and expanding margins; it is harder to defend on 6.5% rupee growth and a 28.7% profit decline. The bull case from Anand Rathi is that trailing earnings are depressed by the margin dip, so the multiple on FY28 earnings is far lower if Anand Rathi’s 25% plus profit growth plays out. The bear case is that automotive software spending by global carmakers stays weak through FY27 and the premium compresses further.
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Should You Buy KPIT Stock After the Anand Rathi Upgrade?
Buying KPIT stock on the Anand Rathi upgrade, at a KPIT share price of Rs 530.25, is a bet that the margin recovery seen in the KPIT Q2 results continues and that the two large European accounts stop shrinking within two quarters, as management expects. The supporting evidence is real: sequential growth in revenue and profit, a broad automotive software client base, a 60 basis point EBITDA margin improvement, USD 213 million of deal wins, and 27% growth in commercial vehicles. The counter-evidence in the KPIT Q2 results is also real: profit is down 28.7% year on year, dollar revenue is shrinking, Europe is weak, and the stock still trades at a steep premium to the IT sector.
Investors who agree with the Anand Rathi thesis can consider accumulating in tranches around Rs 520 to Rs 530, which is also where JPMorgan’s target sits and where the stock found support on Friday, with the Rs 701 Anand Rathi KPIT target price as a 12-month reference rather than a promise. A sustained move in the KPIT share price below Rs 500 would suggest the market is not buying the recovery story. This is not investment advice; consult a SEBI-registered financial advisor before acting on any brokerage target.
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Conclusion
The KPIT share price at Rs 530.25 on 30 October 2026 sits about 32% below the Rs 701 KPIT target price that Anand Rathi set when it upgraded the stock to Buy after the KPIT Q2 results. The quarter delivered 6.5% rupee revenue growth, a sequential margin recovery to 17.8% and USD 213 million in new deals, but also a 28.7% fall in net profit and continued weakness in European automotive software spending, even as sequential growth held. Whether the stock reaches Rs 701 depends on the two largest accounts bottoming out and the EBITDA margin climbing back towards 20%, which makes the Q3 FY27 numbers in January the next real test for the KPIT share price after these KPIT Q2 results.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on KPIT Share Price and Anand Rathi Target
What is the KPIT share price today, 30 October 2026?
Ans. KPIT share price closed at Rs 530.25 on the NSE on 30 October 2026, down 2.47% from the previous close of Rs 543.70. The stock opened at Rs 544, rose to Rs 548 and then fell to close at the day's low. The KPIT share price values KPIT Technologies at about Rs 14,900 crore and trades at a trailing P/E of around 28 times, well above the IT industry average of about 19 times.
What is the Anand Rathi KPIT target price and rating?
Ans. Anand Rathi upgraded KPIT Technologies to a Buy rating on 29 October 2026 with a target price of Rs 701 per share. From the 30 October KPIT share price of Rs 530.25, that target implies an upside of about 32%. The brokerage based the call on KPIT's shift towards a product-led business model, reduced reliance on its two largest automotive clients, strong deal wins of USD 213 million in Q2, and an expected profit growth of more than 25% a year between FY27 and FY29.
What were the KPIT Q2 results for FY27?
Ans. KPIT Q2 results for the quarter ended 30 September 2026 showed revenue from operations of Rs 1,690.97 crore, up 6.5% year on year and 1% quarter on quarter. Dollar revenue was USD 176.8 million, down 2.2% year on year, with constant currency growth of 0.2%. Net profit fell 28.7% year on year to Rs 120.61 crore but rose 3.4% sequentially. EBITDA margin improved 60 basis points from the June quarter to 17.8%, and the company won new engagements worth USD 213 million.
Why did KPIT's net profit fall 28.7% in Q2 FY27 if revenue grew?
Ans. KPIT's net profit fell 28.7% year on year in the KPIT Q2 results because the EBITDA margin dropped to 17.8% from 20.3% a year earlier, driven by higher employee costs, depreciation and finance costs, while revenue from its two largest European automotive clients fell about 13%. Losses at the Qorix joint venture also weighed on the bottom line. Profit did improve 3.4% from the June quarter as the margin recovered by 60 basis points, which is the trend brokerages are focusing on.
Is KPIT a good stock to buy after the Q2 results?
Ans. KPIT is a stock with a split brokerage view after the KPIT Q2 results. Anand Rathi rates it a Buy with a Rs 701 target on expectations of a margin recovery and client diversification, while JPMorgan has a Neutral rating with a Rs 520 target, just below the current price. Investors who believe the two large European accounts will stop shrinking within two quarters, as management expects, may see value near Rs 520 to Rs 530, but the KPIT share price trades at a premium of 28 times trailing earnings. Consult a SEBI-registered financial advisor before buying.
What is the upside in KPIT share price from the current level?
Ans. The upside in KPIT share price to the Anand Rathi target of Rs 701 is about 32% from the 30 October 2026 close of Rs 530.25. The upside was reported as roughly 25% when the upgrade was issued on 29 October; Friday's 2.47% decline widened it. JPMorgan's Rs 520 target implies no upside from the current price, so Anand Rathi and JPMorgan differ by about Rs 180 per share on where the KPIT share price should be.
What are the main risks for KPIT stock in FY27?
Ans. The main risks for KPIT stock are continued weakness in European and UK automotive clients, where revenue from the two largest accounts fell about 13% year on year in the KPIT Q2 results, a slower than expected margin recovery, losses at the Qorix joint venture, and the premium valuation of about 28 times trailing earnings. Dollar revenue declined 2.2% year on year in the KPIT Q2 results, so if global carmakers keep cutting software spending, the Anand Rathi profit growth forecast of over 25% a year would be at risk.
Which other IT stocks has Anand Rathi upgraded recently?
Ans. Besides KPIT Technologies, Anand Rathi upgraded HCLTech from Hold to Buy on 13 October 2026 with a target price of Rs 1,435 after HCLTech raised the lower end of its FY27 revenue guidance, and it maintained a Buy on TCS with a Rs 2,430 target on 9 October 2026 after TCS reported 0.5% sequential constant currency growth in Q2 FY27. Anand Rathi's IT calls this quarter have focused on companies showing AI-led services momentum and margin resilience.
