Stock To Buy: Consumer Durables Stock Jumps 236% YTD, Motilal Sees 26% More Gain

Motilal Oswal has recommended investors to buy mid cap multibagger stock operating in consumer durables sector Kaynes Technology India with target price of Rs 3100 per share. Last trading price of Kaynes Technology share BSE is Rs 2455.00 apiece with intraday gain of 0.57%. If you buy Kaynes Technology shares at this price, you can gain potential return of 26.27%. Kaynes Technology shares soared 231% year-to-date. Check details below:

Kaynes Technology Valuation: According to Motilal Oswal in its brokerage report dated November 1, 2023, "We maintain our FY24/FY25/FY26 EPS estimates given strong customer additions in high-value and high-margin verticals. We retain our BUY rating on the stock with a TP of INR3,100 (50x FY26E EPS)."

Kaynes Technology Financials: The company declared its net sales at Rs 360.85 crore for the quarter ended September 2023 as against Rs 273.17 crore declared in the corresponding period of last year. The company's quarterly net profit soared 53.78% to Rs 32.30 crore as compared to Rs 21.00 crore declared in similar quarter of last year. Its EBITDA stood at Rs 57.75 crore in September 2023, up 31.4% as compared to Rs 43.95 crore in September 2022. Its EPS jumped to Rs 5.55 in September 2023 from Rs 4.52 in September 2022.

Kaynes Technology Stock Performance & Return: Current market price of Kaynes Technology share BSE is Rs 2455.00 apiece. Its 52-week high price is Rs 2954.20 per share and 52-week low price is Rs 625.05 per share, respectively. It has a market capitalisation of Rs 14,273.98 crore. Kaynes Technology shares gained 32% in last 3-months, soared 85% in last 6-months, and rose 235% in last 1-year.

Kaynes Technology About: Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturer in India. It has 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.

Disclaimer:

The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.