India's KPIT Technologies gains as Qualcomm Ventures joins as shareholder in JV
ReutersMar 17, 2025 6:47 AM
Indian automotive tech firm KPIT Technologies KPIE.NS jumps 4.2% to 1,257 rupees
Co said Qualcomm Ventures, the venture capital arm of Qualcomm QCOM.O, will become minority shareholder in KPIE's joint venture company Qorix GmbH
Qorix GmbH is KPIE's JV with German technology manufacturing company ZF Friedrichshafen ZFF.UL
Qualcomm Ventures will have an option to increase shareholding in JV by up to 10 million euros ($10.9 million), it did not disclose the initial shareholding details
KPIE stock is rated "buy" on avg, median PT at 1,580 rupees - data compiled by LSEG
KPIE down ~18% YTD
($1 = 0.9189 euros)
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