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<ul><li><keyword id="19563904" type="General" weightage="20" keywordseo="tata-technologies-ipo" source="Orion">Tata Technologies’ IPO</keyword> opens for subscription on November 22, amidst a lot of competition.</li><li>Analysts believe that the outsourced ER&amp;D market will see good growth ahead, and say that its price band offers investors an upside.</li><li>Even though it’s a complete offer for sale, brokerages predict good earnings growth for the company going ahead. </li></ul>The initial public offer (IPO) of Tata Technologies is opening its subscription alongside four other issues. While investment bankers are confident of the ‘high-quality business’ from the House of Tatas, analysts are backing the ₹3,042 crore issue due to its prospects, business model and mostly its pricing. The grey market is also the most optimistic it’s ever been in the recent past as it predicts 70% listing gains. The engineering research and development (R&amp;D) company offers product development and digital solutions to manufacturing companies. “Its areas of expertise include product engineering and manufacturing engineering in the mechanical domain such as body engineering, while it is adding capabilities in the software and embedded engineering segments,” says a report by Emkay. This market of global outsourced ER&amp;D market was estimated to be around $105-110 billion in 2022. Moreover, the digital engineering market is expected to grow at a compounded annual growth rate (CAGR) of 16% between 2022 to 2026. Auto to EV to aviation The subsidiary of <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> is heavily focussed on the auto sector where it gets 75% of its revenues from. But its turnkey solutions can also be used across the manufacturing vertical. It has set its sights on aviation where the outsourced ER&amp;D market is as big as $9 billion per annum. “Apart from automotive, it will be a key beneficiary of tailwinds in aerospace led by capacity expansion plans of aircraft manufacturers and MRO (Maintenance, Repair, and Overhaul) activities,” says a report by IDBI Capital. The growing electric vehicle sector too is another area of focus. Prashanth Tapse, senior VP of research at Mehta Equities says that portfolio is diverse across traditional OEM’s to new-age electric vehicles. “We think outsourcing business models would be in great demand going forward in engineering services and digital transformation services to global manufacturing clients helping clients to conceive, design, develop and deliver better products,” Tapse adds. While services constitute around 80% of its revenues, it also gets 11% of revenues from products business where it re-sells third-party software applications. It also has an education vertical where it provides ‘phygital’ solutions in manufacturing skills – that nets it with 9% of revenues. Slower than peers, but better In the last three fiscal years, from FY21 to FY23, its revenue and profit after tax grew at a compounded annual growth rate (CAGR) of 36% and 62% respectively. Analysts say that the growth is a tad slow, as compared to its industry peers be it LTTS, its own group company Tata Elxsi and KPIT Cummins. “Tata Tech’s growth trajectory over FY16-23 remains slower than peers’, but has seen improvement in the last three years because of traction in select accounts. Weakness in a large client in H1FY24 due to near completion of the large full-vehicle development projects may weigh on the company’s near-term performance,” says a report by Emkay. The company had specified in its risk factors in the RHP that it’s heavily dependent on its top five clients. This also includes its anchor clients – its promoter Tata Motors, and its subsidiary, Jaguar Land Rover. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,414 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,529 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,380.9 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹624 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹436.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹239 crore </td></tr></tbody></table>Source: RHP ‘Investor-friendly pricing’ Emkay also quickly adds that all the above issues are fairly captured in its valuations. It has set a price band of ₹475-500 for the issue. At the upper end of the price band, Tata Tech is being valued at around 32 times its FY23 EPS. The same ratio for LTTS is at 40x, Tata Elxsi at 69x, and KPIT at 110x. Most brokerage reports say that the company has left something on the table for its IPO investors. “Despite 100% OFS offer investors are keen to own the share based on group legacy. We strongly advocate a good long term prospects for the company. We recommend it from a long-term perspective as well as strong listing gain due to investor friendly pricing given good room for upside,” said Tapse. IDBI Capital too said that it expects robust earnings growth going ahead, while Ventura also says that it has good earnings growth potential. “With the gradual recovery in the global economy, rising manufacturing capex and shift in manufacturing from US/Europe/China to India due to cost inflation and China+1 strategy, we are expecting strong in the TTECH’s financial performance in the coming years,” the Ventura report said. SEE ALSO <a href="https://www.businessinsider.in/personal-finance/news/the-dark-truth-behind-rbis-crackdown-on-easy-personal-loans/articleshow/105287366.cms">The dark truth behind RBI’s crackdown on easy personal loans</a> <a href="https://www.businessinsider.in/business/news/bitten-by-inflation-indians-buying-fewer-clothes-this-season/articleshow/105179140.cms">Bitten by inflation, Indians buying fewer clothes this season</a>

Tata Technologies IPO: The price is right say analysts

Tata Elxsi, KPIT Tech, Happiest Minds, Mphasis — These mid and small cap IT stocks have become multibaggers in last one year

Mumbai, Jan 30 () Large investments, including a corporate office in Munich, have dented profitability for KPIT Technologies and the target is to get operating margin up to 18 per cent in the medium term, its management said on Thursday.
 To boost employee morale, the company is planning to allocate shares to 70 per cent of its over 7,000 employees by March as against only 20 per cent who own the company at present.
 The company, which had merged with Birlasoft in 2018 before splitting into two publicly listed companies in ealry 2019, has invested in hiring over 700 people at the Munich office, which is one of the most expensive locations in the world, its co-founder and chief executive Kishor Patil said.
 In results announced on Wednesday, it reported a post tax net of Rs 40.93 crore in the December quarter, up from Rs 36.73 crore in the year-ago quarter.
 The Pune-headquartered company which provides software solutions mainly to auto and mobility companies worldwide reported operating margins at 13.4 per cent in the December quarter, which was flat as the quarter ago period.
 "Most of the investments that we have to do are over now and we will be restricting the investments to 3-4 per cent of our revenues from here on. The target is to take the EBITDA to 18 per cent in the next few years," Patil told .
 The company, which added 1,000 people in calendar 2019, is also finalising a location to have an development centre in India but it may not impact margins, he said.
 It sees a healthy demand and deal flow, and will continue hiring in the new year as well, he said.
 The attrition was at "early double digits" as of December and the company is targeting to get it down to single digits in March quarter, he said.
 As a token for completing one year as a standalone entity, the company is targeting to give shares to over half its employees or over 3,500 people in the March quarter, Patil said, clearing that these are not ESOPs.
 Indian automakers are investing in technologies despite the reverses in demand, Patil said, adding that companies globally ought to invest for holding on to market shares in the competitive segment.
 The company scrip gained 0.46 per cent to close at Rs 99.35 apiece on the BSE on Thursday as against a 0.69 per cent correction on the benchmark. AA MR
MR

KPIT Tech targets 18pc EBITDA margin in medium term, says official

New Delhi, Jan 29 () Tech firm KPIT Technologies on Wednesday posted a consolidated net profit of Rs 42.8 crore for the quarter ended December 2019.
 The company had reported a net profit (attributable to owners of the company) of Rs 35.9 crore in the preceding July-September period, KPIT Technologies said in a regulatory filing.
 Its revenue from operations stood at Rs 550.09 crore for the quarter under review as compared to Rs 544 crore in the preceding three-month period, it added.
 The numbers are not comparable on year-on-year basis. In 2018, CK Birla Group-owned Birlasoft and KPIT Technologies had announced that they will merge and then split into two publicly-traded companies to create two specialised IT players.
 After the demerger, the engineering business was incorporated on January 8, 2018, and listed on BSE and NSE as KPIT Technologies in April last year.
 "The automotive and mobility sector is investing in upcoming technologies, despite falling vehicle sales. Riding on this, we have demonstrated a strong year-to-date Q3FY20 constant currency growth of 15.5 per cent and a consistent improvement in net cash position," KPIT co-founder, CEO and MD Kishor Patil said.
 The company has declared an interim dividend of 55 paise per share, Patil said.
 "We are assertive of growth and consistent profitability improvement, going forward," he added.
 At the end of the third quarter, KPIT's net cash level stood at Rs 258.4 crore. 
 Its headcount was at 7,303 people at the end of December 2019 quarter. SR RVK

KPIT Technologies posts Q3 net profit of Rs 42.8 cr

<ul><li>The 30-share BSE index Sensex was down 250 points, and the NSE Nifty was trading 0.67% lower at 9:55 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices opened on a choppy note on Thursday, tracking weak cues from the global markets as negotiations continue to drag over the stimulus package in the US. The 30-share BSE index Sensex was down 250 points, and the NSE Nifty was trading 0.67% lower at 9:55 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td></tr></tbody></table>*as of October 22, 09:55 am These are the top stocks in news today. Zee Entertainment Enterprises (ZEEL) up over 2% The shares of Zee Entertainment Enterprises (ZEEL) gained over 2%, a day after the company unveiled a major strategic restructuring to focus on revenue maximisation and foray into newer territories. Vedanta shares gain 3% Vedanta shares trade 3% higher ahead of the board meeting, which is scheduled to meet on October 24 to consider and approve the first interim dividend for FY21. GMM Pfaudler trades 1% higher Even in the volatile market, the shares of GMM Pfaudler were trading one percent higher. The company has reported a 29.14% jump in its consolidated net profit to ₹26.85 crore for the second quarter ended September 30. KPIT Tech shed over 3% The software technology company KPIT Tech shed over 3% after the company reported a 2.5% fall in its net profit to ₹27.8 crore for the quarter ended September 30. JK Tyre shares gain 6% The shares of tyre major JK Tyre gained over 6% during the morning trade on Thursday after the company reported strong QoQ growth in Q2. The company reported a net profit at ₹109.68 crore against the loss ₹204.17 crore in the first quarter. Bajaj Finserv trades 2% higher The shares of private lender Bajaj Finserv rose over 2% after it reported a 5.8% jump in its total income to ₹15,051.59 crore during the second quarter ended September 30. However, its consolidated net profit fell 18% to ₹986.29 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/former-tesla-cio-raises-150-million-for-his-saas-automotive-retail-startup-enters-the-unicorn-club/articleshow/78800958.cms" data-type="tilCustomLink">Former Tesla CIO raises $150 million for his SaaS automotive retail startup, enters the unicorn club</a> <a href="https://www.businessinsider.in/business/corporates/news/kumar-mangalam-birla-says-cement-industry-is-recovering-and-analysts-find-evidence-of-it-outside-ultratech-too/articleshow/78791281.cms">Kumar Mangalam Birla says cement industry is recovering and analysts find evidence of it outside UltraTech too</a> <a href="https://www.businessinsider.in/business/startups/news/uber-bus-pradeep-parameswaran-says-india-and-apac-will-follow-egypt-success/articleshow/78788982.cms">Uber Bus in India soon? Head of Mobility in APAC says he is ready to import the Egypt experiment</a> <a href="https://www.businessinsider.in/india/news/sadhguru-advice-government-should-give-tax-relief-for-sustainable-businesses/articleshow/78790522.cms">Sadhguru’s advice: Government should give tax relief for sustainable businesses</a>

Top stock movers — Vedanta, JK Tyre, GMM Pfaudler, Bajaj Finserv, Wipro, HCL Tech, Dr Reddy and others

<a href="http://www.businessinsider.in/searchresult.cms?query=Front+line+Technology">Front line Technology</a> stocks were in heavy demand in a flat trading session on Wednesday, indicating an extremely defensive nature of investors in the market that has lost 3.1 percent in the last four trading sessions. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Tech+Mahindra">Tech Mahindra</a> surged 4.6 percent to 537.70 rupees 
<a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Consultancy+Services">Tata Consultancy Services</a> jumped 2.4 percent to 2,609 rupees 
<a href="http://www.businessinsider.in/searchresult.cms?query=Hexaware">Hexaware</a> soared 3.6 percent to 242.95 rupees 
<a href="http://www.businessinsider.in/searchresult.cms?query=Infosys">Infosys</a> added 1.3 percent to 1,108 rupees and 
MindTree gained 1.1 percent to 1,386 rupees 
 
Mid cap IT Stocks also saw sustained buying: 
 
8K Miles jumped 4 percent to 1,238 rupees 
Accelya Kales rose 1 percent to 995 rupees 
KPIT Tech added 2 percent to 102.95 rupees 
NIIT Tech was up 0.4% to 470 rupees and 
Sonata Software gained 1.8 percent to 139 rupees. 
 
Image credit: Indiatimes

Here's how the Software stocks are doing today

<keyword id="6361043" type="ORGANIZATION" weightage="100" keywordseo="Software">Software</keyword> stocks were in a modest uptrend in an otherwise weak market as the Rupee's depreciation versus the Dollar and other currencies put the export-oriented sector under the limelight. <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> and <keyword id="6357585" type="CITY" weightage="80" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> were also the top gainers on the Nifty.
 

	The Rupee fell 1 percent on Wednesday, its sharpest intra-day fall in 3 months, after China devalued its currency by 2 percent on Tuesday. Software companies have a majority of their earnings denominated in Dollars and a weakness in the Rupee pushes their revenues further up.
 

	As a consequence, Infosys rose 2 percent to 1,135 rupees on the National Stock Exchange. TCS added 1.4 percent to 2,642 rupees. HCL Tech was up 0.7 percent to 951.25 rupees and MindTree gained 7.2 rupees at 1,389.85 rupees.
 

	Other IT stocks in the uptrend were CMC, KPIT Tech, MphasiS, Polaris and Sonata Software.

	 
	
		The BSE IT Index was also the lone gainer in a sea of red that enveloped the sectoral space. 
		 
		Image credit: Indiatimes

You Searched For "KPIT Tech" and got 7 results

Tata Technologies IPO: The price is right say analysts

Katya Naidu

Tata Elxsi, KPIT Tech, Happiest Minds, Mphasis — These mid and small cap IT stocks have become multibaggers in last one year

Bhakti Makwana

KPIT Tech targets 18pc EBITDA margin in medium term, says official

PTI

KPIT Technologies posts Q3 net profit of Rs 42.8 cr

PTI

Top stock movers — Vedanta, JK Tyre, GMM Pfaudler, Bajaj Finserv, Wipro, HCL Tech, Dr Reddy and others

Navdeep Yadav

Here's how the Software stocks are doing today

Shailendra Bhatnagar

Software stocks are doing reasonably well at the Markets today

Shailendra Bhatnagar

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