Rs 5,422.80 Crore Order Book: Multibagger Electronics Manufacturing Company’s Stock Rockets Over 10 Per Cent & Hit 52-Week High With 6 Times Spurt in Volume
The stock gave multibagger returns of over 150 per cent in just 1 year whereas BSE Sensex Index is up by 23.75 per cent.
On Wednesday, shares of Kaynes Technology India Ltd gained 11.6 per cent and made a new 52-week high of Rs 5,935 per share from its previous closing of Rs 5,316.70 per share. At the closing bell, shares of the company were trading at Rs 5,880.75 per share, up 10.61 per cent with a spurt in volume by more than 6 times.
Kaynes Technology, a seasoned Indian ESDM player with over three decades of expertise, offers comprehensive electronics solutions from conceptualization to lifecycle support. Serving diverse sectors including automotive, industrial, aerospace, outer space, strategic electronics, medical, railways, IoT, and IT, the company boasts eight advanced manufacturing facilities capable of producing high-mix, high-value products flexibly. Complementing its manufacturing prowess, Kaynes operates service centres in Cochin and Mumbai, catering to railway, aerospace, defence and industrial clients.
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Results: The net sales increased by 59 per cent to Rs 360.8 crore, the operating profit increased by 68 per cent to Rs 48.8 crore and the net profit increased by 86 per cent to Rs 32.3 crore in Q2FY25 compared to Q2FY24.
Order Book: Order book grew from Rs 5,038.60 crore in Q1FY25 to Rs 5,422.80 crore in Q2FY25. This robust growth was driven by strong demand across all business segments, with particularly impressive performance in the industrial & EV, aerospace, outer-space & strategic electronics and railways sectors.
The company has a market cap of over Rs 37,000 crore. In September 2024, FIIs increased their stake to 14.92 per cent compared to 14.27 per cent in June 2024. The stock gave multibagger returns of over 150 per cent in just 1 year whereas BSE Sensex Index is up by 23.75 per cent. Investors should keep an eye on this Mid-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.