Meanwhile, the BSE Sensex was down 108.13 points or 0.64% to 16,804.58.

On BSE, 2.87 lakh shares were traded in the counter as against average daily volume of 1.47 lakh shares in the past one quarter.

The stock hit a high of Rs 121.25 so far during the day, which is a record high for the counter. The stock hit a low of Rs 111 so far during the day. The stock had hit a 52-week low of Rs 68.30 on 20 December 2011.

The stock had outperformed the market over the past one month till 7 May 2012, surging 45.9% compared with the Sensex's 3.28% fall. The scrip had also outperformed the market in the past one quarter, rising 42.8% as against the Sensex's 4.03% fall.

The company has an equity capital of Rs 35.59 crore. Face value per share is Rs 2.

The KPIT Cummins Infosystems stock had rallied 15.63% in two trading sessions to settle at Rs 116.50 on Monday, 7 May 2012, from Rs 100.75 on 3 May 2012. Strong guidance from the company for the year ending March 2013 aided the recent solid surge in the counter.

KPIT Cummins Infosystems' consolidated net profit rose 6% to Rs 43.72 crore on 27% growth in sales to Rs 480.01 crore in Q4 March 2012 over Q3 December 2011. Net profit jumped 54% to Rs 145.36 crore on 52% growth in sales to Rs 1500.01 crore in the year ended 31 March 2012 over the year ended 31 March 2011.

KPIT Cummins Infosystems has issued strong outlook for FY 2013. The company has projected 15% to 20% growth in consolidated PAT at Rs 167 crore to Rs 174 crore on 36% to 39% growth in revenue at Rs 2040 crore to Rs 2090 crore in FY 2013 over FY 2012. The company said that irrespective of the soft macro-economic environment, the company is fairly confident of growth in the coming years.

KPIT Cummins Infosystems is a global IT consulting and product engineering company focused on co-innovating domain intensive technology solutions for Manufacturing corporations (with special focus on Automotive, Hi-Tech & Industrials verticals).