Shares of KPIT Technologies after the de-merger of engineering division plunged as much as 44% in Thursday's trading session to hit an intra-day low of Rs. 123.15. The stock at the time of reporting was still quoting lower by 39.21%, though it recovered some of the losses to trade at Rs. 132.50.
The stock during the last month lost as much as 37%.
The shares of KPIT Technologies as its engineering division is now demerged into a separate entity and has started ex-demerger, January 24 being the ex-date for the same.
And now onwards, the shares of the company trade without the engineering division, after the company has entered into a three-step complex deal with Birlasoft.
The transaction expected to be completed by March will comprise a merger and then a demerger, resulting in the creation of 2 specialised technology companies.