Kaynes Technology shares surge 3% after JPMorgan initiates coverage with ‘Overweight' rating, sees robust growth in EMS sector
Kaynes Technology shares gained 3% in early trade after JPMorgan initiated coverage with an 'Overweight' rating. The brokerage highlighted the company's strong revenue growth potential, projecting a compound annual growth rate (CAGR) of 46% over FY25–28. Kaynes aims to reach $1 billion in revenue by FY28.
JPMorgan also pointed to broader sector tailwinds, calling India's Electronic Manufacturing Services (EMS) industry a 'sunrise sector,' with an expected 32% CAGR from FY25 to FY30. Growth drivers include higher electronics demand, government-led manufacturing incentives, and global supply chain shifts.
Kaynes Technology stock opened at ₹6,070.00 and touched an intraday high of ₹6,238.00, while the low remained at the opening level. The current price action keeps the stock well below its 52-week high of ₹7,822.00 but comfortably above its 52-week low of ₹3,726.00.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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