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The current price-to-earnings multiple of most electronics manufacturing services companies, including Dixon, Kaynes Tech, Syrma SGS Tech, and Avalon Tech, is higher than their five-year average PE ratios
Kaynes Technologies' shares have surged over 40% in the past three trading sessions on the BSE following the company's robust performance in the January-March quarter. Today, the stock saw a further spike of 12%, reaching a 52-week high of Rs 3,638.4. In Q4 FY24, Kaynes Tech reported a significant increase in consolidated net profit, soaring by 96.8% year-on-year (YoY) to Rs 813 crore.
Kaynes Tech's consolidated net profit jumped 96.8 percent YoY in Q4FY24, while revenue from operations increased 74.8 percent YoY
Kaynes Technology share price: Profit after tax (PAT) came at Rs 81.3 crore, up 96.8 per cent on a year-on-year (YoY) basis. During the quarter under review, PAT margin was at 12.8 per cent. Revenue from operations jumped 74.8 per cent (YoY) to Rs 637.3 crore in Q4 FY24.
BSE was the top gainer in the Nifty500 index, soaring 521 percent, followed by IRFC and Suzlon Energy, which skyrocketed 462 percent and 444 percent, respectively.