ASX:JBH 17 February 2026

July 1, 2026, 2:33 AM EDT. KPIT Technologies shares tumbled more than 15% and hit their lower circuit after the company warned on Q1 FY27 profits. KPIT said Q2 revenue will likely stay flat. JPMorgan lowered its rating to 'Underweight' from 'Neutral' and slashed the target price to Rs 550 from Rs 700. The firm pointed to weaker spending from European auto makers, highlighting cuts at BMW and Volkswagen, and warned KPIT's revenue could drop for a second year. JP Morgan flagged pressure on EBITDA and net margins, with little room for cost cuts in the near term. KPIT stock is down 54% this year, far behind the Nifty 50.