Goldman Sachs cut its target price for KPIT Technologies to Rs 637 from Rs 740, citing weaker client activity and a slower recovery in electric vehicle research and development spending, with expectations of flat revenue growth for FY27 and a 5.2% sequential decline in revenue for the June quarter.

KPIT Technologies' shares have plunged 25% to a nearly four-year low following a weak revenue outlook, with expectations of a year-on-year decline in reported USD revenue for Q1 FY27. Brokerages have downgraded the stock, with JM Financial reducing its rating to 'Reduce' and cutting the target price, while Equirus Securities downgraded to 'Add' and also lowered its target price, reflecting a cautious sentiment on near-term earnings.