Stay updated with breaking news from Kaynes Technology. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Kaynes Technology: Jayesh Ranjan, special chief secretary to Government of Telangana, industries & commerce department, & information technology, electronics and communications, told ET, "To the best of our knowledge, we are not aware of Kaynes shifting their OSAT project to any other State."
India is all set to make its presence felt in the $47 billion global outsourced semiconductor testing and packaging market, an arena where Malaysia and Vietnam have been way ahead so far. The Cabinet last Thursday cleared two projects, the Tata's assembly testing and packaging plant (ATMP) and the Murugappa-owned CG Power with Renesas from Japan as its tech partner. These, together with Micron's assembly and testing plant which is already being constructed in Sanad in Gujarat, will collectively invest Rs 47,300 crore to set up the factories.
Kaynes Technology. InCred has downgraded this stock to 'HOLD' due to a significant run-up in the stock price & unfavourable risk-reward. InCred suggested a target of Rs 3,120 on the scrip.
JM said that Kaynes was on a journey of value addition with significant expansion of its PCBA business across various high-margin sectors. It achieved a "remarkable" order book CAGR of 96% from FY20-23 at Rs 3,790 crore which is 2.4X its trailing-twelve month revenue.
Valuation concern persists. Hedging bets with strong earnings growth. Risk-reward opportunities in banking, pharma, tech. EMS sector, Dixon Tech, Amber Enterprises, Kaynes Technology, Syrmavery have growth potential. Linear growth in pharma midcap names, PB Fintech, Paytm, and insurance tech market show promise. Fair valuation and growth rate must be assessed.