On Monday this small-cap stock gains up to 16% after the company entered into an MoU with the Telangana Government. The stock is trading 9% away from the 52-week high and above both the 50-day and 200-day moving averages.
Kaynes Technology India Ltd
The company has a market capitalisation of Rs. 15,518 Cr, making it a small-cap company. On Monday at 11:05 a.m., shares were trading 3.3% up at Rs. 2,635.05 on NSE.
According to the company filing, Kayanes Technology India Ltd entered an MoU with the Government of Telangana (Information Technology, Electronics and Communication Department ‘ITE&C’) for setting up an Outsourced Semiconductor Assembly and Testing (OSAT) and Semiconductor manufacturing facility in Telangana.
The proposed facility by Kayan Technology will entail an investment of Rs. 2,800 Cr and will create direct employment for over 2,000 people.
The stock has delivered 180% returns in six months and 280% returns in one year, therefore making an investment of 1 lakh six months ago now would be worth Rs 2.8 lakh and making the same amount of investment one year ago is now worth Rs. 3.80 lakhs.
As per the company filing, total income grew by 34.5% from Rs. 199.9 Cr in Q1 FY23 to Rs. 305.2 Cr in Q1 FY24 and for the same period, net profit increased by 146% from Rs. 10 Cr to Rs. 24.6 Cr.
As of June 2023, Promoters hold 63.57%, DIIs hold 13.13%, FIIs hold 7.96% and the public hold a 15.34% stake in the company.
Kaynes Technology India Ltd is an integrated electronics manufacturing company that offers end-to-end and IoT solutions. It offers conceptual design, process engineering, integrated manufacturing, and life-cycle support to companies in the automotive, industrial, aerospace and defence, outer space, railways, Internet of Things, information technology sectors and other segments.
Written by Sheshadri N
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
