52-week high alert: Heavy buying witnessed in this multibagger stock; do you own it?
Since it’s IPO in November 22, 2022, the stock has witnessed significant buying activity, giving multibagger returns of more than 110 per cent
On Tuesday, shares of Kaynes Technology India zoomed more than 5.5 per cent to trade on intraday high and new 52 week high of Rs 1619.55 apiece on BSE. The scrip witnessed massive spurt in volume.
IN Q4FY23. The company’s revenue surged more than 53 per cent from last year’s same quarter to Rs 364.6 crore. The EBITDA level of the company stood at Rs 59.4 crore, witnessing a jump of more than 48 per cent from March 2022 quarter. The net profit of the company shot up by more than 108 per cent from corresponding quarter last year to Rs 41.3 crore. The company’s order book stood at Rs 2648.2 crore in F23, increasing by whopping 74 per cent from FY22’s order was book which was Rs 1516.6 crore.
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Incorporated in 2008, Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturing company. The company provides conceptual design, process engineering, integrated manufacturing, and life-cycle support for major players in the automotive, industrial, aerospace and defense, outer-space, nuclear, medical, railways, Internet of Things (IoT), information technology and other segments.
Since it’s IPO in November 22, 2022, the stock has witnessed significant buying activity, giving multibagger returns of more than 110 per cent. Keep a close eye on this trending stock.