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An update from KPIT Technologies Limited ( (IN:KPITTECH) ) is now available.
KPIT Technologies has disclosed that early founders and existing promoters, Mr. Ajay Bhagwat and Ms. Ashwini Bhagwat, have requested reclassification of their status from the ‘Promoter’ category to the ‘Public’ shareholder category. The company clarified that the two have not been involved in KPIT’s day-to-day operations for around two decades, have not served on its board for the past 10 years, and are primarily engaged in their own separate business, Renu Electronics, which designs and manufactures industrial automation products. Their current shareholding in KPIT is described as a purely financial investment, and the company emphasized that the proposed reclassification will not affect its governance, management, or control structure. The move is subject to approvals from KPIT’s Board of Directors as well as from BSE and the National Stock Exchange of India.
More about KPIT Technologies Limited
KPIT Technologies Limited is an Indian technology company based in Pune, focused on engineering and digital solutions for the automotive and mobility industry, delivering software and product engineering services to global clients. The company is listed on both BSE and NSE and operates within the broader IT and engineering services sector.
Average Trading Volume: 37,882
Technical Sentiment Signal: Sell
Current Market Cap: 326.1B INR
For a thorough assessment of KPITTECH stock, go to TipRanks’ Stock Analysis page.