Rs 3,000 crore order book & Rs 2,800 crore project: This electronics manufacturing company signs MoU with Government of Telangana; scrip hit 52-week high!
The stock gave multibagger returns of 165 per cent in just 6 months and over 250 per cent in 1 year.
Kaynes Technology Ltd, a leading end-to-end and IoT solutions-enabled integrated electronics manufacturing company; informed that the company is in a landmark moment in India’s Semiconductor Mission, Telangana is set to host Semiconductor OSAT and Compound Semiconductor facility by Kaynes Technology. The proposed facility by Kaynes Technology will entail an investment of Rs 2,800 crore and will create direct employment for over 2,000 people.
Kaynes Technology India Limited, a 3 decades old company, is a homegrown player in the Electronics Contract Manufacturing Services segment with a global footprint. Kaynes Technology is venturing into OSAT/ ATMP services under its subsidiary Kaynes Semicon. Kaynes Semicon will support customers worldwide in QFN, SOT, TO, BGA and FC BGA kind of packages in the first 3 years for power devices. Kaynes Semicon is also setting up a state-of-the-art R&D centre for package research in collaboration with IIT Bombay.
On Friday, shares of Kaynes Technology jumped 3.16 per cent to make a new 52-week high of Rs 2,572.45 per share being one of the Top Gainers on BSE. At the closing bell, shares of the company were trading at Rs 2,549.25 per share, up 2.23 per cent. In the recent trading sessions, the stock has been hitting back-to-back 52-week highs.
Earlier, the company announced its Quarterly Results wherein the net sales increased by 49.14 per cent to Rs 297.18 crore and the net profit skyrocketed by 145.36 per cent to Rs 24.65 crore in Q1FY24 compared to Q1FY23. Additionally, the company's order book stood as of June 30, 2023, the order book has grown to Rs 3,000.40 crore. This represents a growth of 13.30 per cent over the three-month period.
According to the annual results, the net sales increased by 59.45 per cent to Rs 1,126.11 crore and net profit skyrocketed by 128.42 per cent to Rs 95.20 crore in FY23 compared to FY22. The company has a market cap of over Rs 11,000 crore.
The stock gave multibagger returns of 165 per cent in just 6 months and over 250 per cent in 1 year. Investors should keep an eye on this Mid-Cap stock.
DSIJ offers a service 'Mid Bridge' with recommendations for mid-cap stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the service details pdf here
Disclaimer: The article is for informational purposes only and not investment advice.
Related articles
-
Rs 3,000 crore order book: This multibagger electronic components company reports a 145 per cent jump in net profit!
-
Rs 36,355 crore order book: LIC-backed multibagger construction stock below Rs 70; Company reports a 94 per cent jump in net profit to Rs 324.2 crore!
-
Rs 65,000 crore order book: This multibagger railway infra company emerges as the lowest bidder (L1) for orders worth Rs 678,05,61,753 from Southern Railway
-
175 per cent from its 52-week low of Rs 77.56: Promoter bought 4,31,230 shares or 0.12 per cent stake; Company into significant move towards growth by raising Rs 543 crore!
-
President of India’s portfolio sold 27,36,405 shares of this multibagger telecom equipment stock with Rs 11,460.14 crore order book!
-
1:2 stock split & Rs 21,500 crore order book: This shipbuilding & repair company signs master ship repair agreement with US Navy
-
Rs 1102,10,18,033 orders & Rs 4,800 crore order book: This multibagger railway telecom company bags multiple projects from various clients across India
-
Promoter bought 2,00,000 shares of this multibagger civil construction stock with Rs 1,047 crore order book; scrip trades at high ROE & high ROCE
-
Rs 1,047 crore order book: This multibagger small-cap company redefines possession standards and delivers Aaradhya Highpark Towers E & F - 21 months ahead of its schedule!
-
2:1 stock split & Rs 81,784 crore order book: This multibagger aerospace & defence stock hit new 52-week high after LCA IOC Contract increases to Rs 5,077.95 crore!
-
FIIs bought 1,00,000 shares and Rs 1,695 crore order book: This multibagger telecom infrastructure company bags new orders worth Rs 1,30,64,87,640
-
President of India & LIC-backed multibagger PSU stock saw heavy buying with Rs 1,08,618 crore order book; will it hit its 2007 high as it has witnessed multi-year breakout?
-
Rs 12,650 crore order book: This multibagger civil construction company bags new order worth Rs 4,123.88 crore from Brihanmumbai Municipal Corporation
-
Rs 4,69,800 crore order book: This multibagger civil construction company commissions first indigenously built hydrogen electrolyser at Hazira!
-
Rs 1,000 crore order book and FIIs & DIIs increase stake: This multibagger small-cap company receives ARAI certification to launch its first flagship electric vehicle – know more here!
-
President of India’s portfolio gains Rs 1064,89,08,481 from this multibagger railway telecom stock in just 1 day with Rs 4,800 crore order book – scrip hit 52-week high!
-
Madhuri Madhusudan Kela’s portfolio stock with Rs 1,499 crore order book: This electrical equipment company bags new order worth Rs 232 crore from Power Grid Corporation of India Limited
-
Rs 4,69,800 crore order book: This multibagger civil construction company bags approx. Rs 2,500 crore railway order to construct Jakarta Mass Rapid Transit Project
-
Rs 2,935 lakh order book & DIIs increase stake: This multibagger micro-cap telecom equipment company receives a new order worth USD 2,39,000 from Balkantel OOD
-
Rs 15,885 crore order book: This multibagger power generation company collaborates with BluSmart to source green power – details inside