KPIT Tech, Persistent Systems are growth heroes in ER&D: JPMorgan

JPMorgan has named KPIT Technologies and Persistent Systems as the top stocks in the engineering research and development (ER&D) sector, calling them "growth heroes". The brokerage was also "overweight" on L&T Technology Services and Cyient. JPMorgan expects the premium in the sector to widen, driven by a rebound in the auto sector.