Kaynes Technology Inks MoU With Karnataka Govt, Shares Hit New High

Mid cap company Kaynes Technology on Friday gained 7.08% and traded new 52-week high after the company signed an MoU with Karnataka government for an investment of Rs 3750 crore to set Semiconductor Assembly & Testing (OSAT) facility and Printed Circuit Board (PCB) manufacturing plant through its step down subsidiaries. Check details below:

Kaynes Technology Inks MoU With Karnataka Govt: According to the BSE filing of the company of the company dated August 25, "Pursuant to Regulation 30 and other applicable regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that, the Company entered into MoU on August 24, 2023 with Government of Karnataka (Electronics, IT and BT Department) for an investment of Rs. 3,750 Crores to setup Semiconductor Assembly & Testing (OSAT) facility and Printed Circuit Board (PCB) manufacturing plant through its step down subsidiaries."

Kaynes Technology Stock Outlook & Return: Current market price of Kaynes Technology share is Rs 1993.05 apiece. Its 52-week high price is Rs 2122.85 apiece and 52-week low price is Rs 625.05 apiece, respectively. It has a market capitalisation of Rs 11,574.72 crore. Kaynes Technology shares gained 51% in last 3-months, soared 114% in last 6-months, and rallied 167% year-to-date.

Kaynes Technology About: Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturer in India. We have capabilities across the entire spectrum of ESDM services. Kaynes has over three decades of experience in providing conceptual design, process engineering, integrated manufacturing and life cycle support for major players in the automotive, industrial, aerospace and defence, outer-space, nuclear, medical, railways, Internet of Things ("IoT"), Information Technology ("IT") and other segments, among others.