Latest news with #JairamSampath
Mint
9 hours ago
- Business
- Mint
Kaynes Technology shares surge 4% as QIP launch aims to raise ₹1,600 crore
Shares of Kaynes Technology rose 4 percent in intra-day trading on Friday, June 20, following the launch of its Qualified Institutional Placement (QIP) issue to raise up to ₹ 1,600 crore. The semiconductor and electronics systems design and manufacturing company opened its QIP on Thursday, setting a floor price of ₹ 5,625.75 per share, a marginal 0.3 percent premium over Thursday's closing price. The fundraising is being managed by Motilal Oswal Investment Advisors, Nomura, and Axis Capital. Kaynes Technology India has projected revenue of ₹ 4,525 crore for FY26, with EBITDA margins expected to improve by 50 basis points to reach 15.6 percent. The company's confidence is backed by a strong order book and expansion into new business areas. Jairam Sampath, Whole-Time Director and CFO, underlined the export growth opportunity. 'We will have some US major company orders getting executed. We will start doing additionally about ₹ 200–300 crore of exports. These are US- and Europe-based companies in both aerospace and automotive segments,' Sampath said. Adding to its global footprint, Kaynes' subsidiary, Kaynes Semicon Pvt Ltd, recently signed an asset purchase agreement with Japan's Fujitsu General Electronics Ltd. The deal, valued at 1.59 billion Japanese yen, includes the acquisition of production lines for power modules, further solidifying the company's expansion into semiconductor manufacturing. Despite Kaynes' bullish outlook, brokerage CLSA issued a cautionary note last month. While it raised its price target to ₹ 6,230 from ₹ 5,400, it downgraded the stock to 'Hold' from 'Outperform'. The rating adjustment followed the company's strong Q4 results, marked by improved margins, though the growth figures came in slightly below CLSA's expectations. CLSA pointed to increased working capital requirements as a drag on operating cash flow (OCF), though it anticipates this issue will normalise in the coming quarters. The brokerage also noted Kaynes' strategic focus on emerging segments such as Outsourced Semiconductor Assembly and Test (OSAT) services and bare board manufacturing, which are expected to contribute meaningfully to revenues from the end of FY26. While CLSA acknowledged the timely execution of these projects could act as catalysts for stock performance, it flagged that the recent sharp rise in stock price warranted some caution, hence the downgrade. On Friday, Kaynes Technology's stock climbed as much as 3.9 percent to ₹ 5,825.50. The stock remains over 25 percent below its 52-week high of ₹ 7,824.95, touched in January 2025, and well above its 52-week low of ₹ 3,729.70, seen in July 2024. Over the last one year, the stock has advanced more than 45 percent. However, it has lost 5 percent in June so far, following three consecutive months of gains—up 4 percent in May, 21 percent in April, and 14.5 percent in March. Before that, it saw a 13.5 percent decline in February and a steep 35 percent correction in January.
Mint
10 hours ago
- Business
- Mint
Kaynes Technology shares surge 4% as QIP launch aims to raise ₹1,600 crore
Shares of Kaynes Technology rose 4 percent in intra-day trading on Friday, June 20, following the launch of its Qualified Institutional Placement (QIP) issue to raise up to ₹ 1,600 crore. The semiconductor and electronics systems design and manufacturing company opened its QIP on Thursday, setting a floor price of ₹ 5,625.75 per share, a marginal 0.3 percent premium over Thursday's closing price. The fundraising is being managed by Motilal Oswal Investment Advisors, Nomura, and Axis Capital. Kaynes Technology India has projected revenue of ₹ 4,525 crore for FY26, with EBITDA margins expected to improve by 50 basis points to reach 15.6 percent. The company's confidence is backed by a strong order book and expansion into new business areas. Jairam Sampath, Whole-Time Director and CFO, underlined the export growth opportunity. 'We will have some US major company orders getting executed. We will start doing additionally about ₹ 200–300 crore of exports. These are US- and Europe-based companies in both aerospace and automotive segments,' Sampath said. Adding to its global footprint, Kaynes' subsidiary, Kaynes Semicon Pvt Ltd, recently signed an asset purchase agreement with Japan's Fujitsu General Electronics Ltd. The deal, valued at 1.59 billion Japanese yen, includes the acquisition of production lines for power modules, further solidifying the company's expansion into semiconductor manufacturing. Despite Kaynes' bullish outlook, brokerage CLSA issued a cautionary note last month. While it raised its price target to ₹ 6,230 from ₹ 5,400, it downgraded the stock to 'Hold' from 'Outperform'. The rating adjustment followed the company's strong Q4 results, marked by improved margins, though the growth figures came in slightly below CLSA's expectations. CLSA pointed to increased working capital requirements as a drag on operating cash flow (OCF), though it anticipates this issue will normalise in the coming quarters. The brokerage also noted Kaynes' strategic focus on emerging segments such as Outsourced Semiconductor Assembly and Test (OSAT) services and bare board manufacturing, which are expected to contribute meaningfully to revenues from the end of FY26. While CLSA acknowledged the timely execution of these projects could act as catalysts for stock performance, it flagged that the recent sharp rise in stock price warranted some caution, hence the downgrade. On Friday, Kaynes Technology's stock climbed as much as 3.9 percent to ₹ 5,825.50. The stock remains over 25 percent below its 52-week high of ₹ 7,824.95, touched in January 2025, and well above its 52-week low of ₹ 3,729.70, seen in July 2024. Over the last one year, the stock has advanced more than 45 percent. However, it has lost 5 percent in June so far, following three consecutive months of gains—up 4 percent in May, 21 percent in April, and 14.5 percent in March. Before that, it saw a 13.5 percent decline in February and a steep 35 percent correction in January. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
12 hours ago
- Business
- Time of India
Kaynes Technology shares in focus after launching Rs 1,600-crore QIP
Kaynes Technology shares will be in focus on Friday after the semiconductor manufacturing company opened its qualified institutional placement (QIP) issue on Thursday to raise up to Rs 1,600 crore. The company has set the floor price at Rs 5,625.75 per share, according to media reports. The indicative price range for the QIP is reportedly between Rs 5,344 and Rs 5,612 per share, implying a discount of up to 4.8% to the floor price. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bank Owned Properties For Sale In Sawahan Dalam (Prices May Surprise You) Foreclosed Homes | Search ads Search Now Undo Also Read: These 9 Nifty Microcap Index stocks trading below industry PE may rally up to 42% Motilal Oswal Investment Advisors, Nomura, and Axis Capital are managing the issue. Kaynes Technology India is projecting revenue of around Rs 4,525 crore for FY26, with EBITDA margins expected to improve by 50 basis points to 15.6%, supported by a strong order book and new business executions. Live Events Jairam Sampath, Whole-Time Director & CFO, said the company anticipates robust export growth in the coming quarters. 'We will have some US major company orders getting executed. We will start doing additionally about Rs 200–300 crore of exports. These are US- and Europe-based companies in both aerospace and automotive segments,' he said. Kaynes' OSAT (Outsourced Semiconductor Assembly and Test) and PCB (Printed Circuit Board) divisions, both largely export-focused, are expected to contribute significantly to its international revenue. Recently, the company's subsidiary, Kaynes Semicon Pvt Ltd, entered into an asset purchase agreement with Fujitsu General Electronics Ltd of Japan to acquire production lines for power modules. The transaction was valued at 1.59 billion Japanese yen. Also Read: 8 debt-free penny stocks that surged 110-300% in the last 1 year. Do you own any? Shares of Kaynes Technology closed 2.1% lower at Rs 5,608.8 on the BSE . The stock has declined 26% year-to-date but has gained 45% in the past 12 months. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
12 hours ago
- Business
- Economic Times
Kaynes Technology shares in focus after launching Rs 1,600-crore QIP
Kaynes Technology shares will be in focus on Friday after the semiconductor manufacturing company opened its qualified institutional placement (QIP) issue on Thursday to raise up to Rs 1,600 crore. ADVERTISEMENT The company has set the floor price at Rs 5,625.75 per share, according to media reports. The indicative price range for the QIP is reportedly between Rs 5,344 and Rs 5,612 per share, implying a discount of up to 4.8% to the floor price. Also Read: These 9 Nifty Microcap Index stocks trading below industry PE may rally up to 42% Motilal Oswal Investment Advisors, Nomura, and Axis Capital are managing the issue. Kaynes Technology India is projecting revenue of around Rs 4,525 crore for FY26, with EBITDA margins expected to improve by 50 basis points to 15.6%, supported by a strong order book and new business executions. Jairam Sampath, Whole-Time Director & CFO, said the company anticipates robust export growth in the coming quarters. 'We will have some US major company orders getting executed. We will start doing additionally about Rs 200–300 crore of exports. These are US- and Europe-based companies in both aerospace and automotive segments,' he said. ADVERTISEMENT Kaynes' OSAT (Outsourced Semiconductor Assembly and Test) and PCB (Printed Circuit Board) divisions, both largely export-focused, are expected to contribute significantly to its international the company's subsidiary, Kaynes Semicon Pvt Ltd, entered into an asset purchase agreement with Fujitsu General Electronics Ltd of Japan to acquire production lines for power modules. The transaction was valued at 1.59 billion Japanese yen. ADVERTISEMENT Also Read: 8 debt-free penny stocks that surged 110-300% in the last 1 year. Do you own any? Shares of Kaynes Technology closed 2.1% lower at Rs 5,608.8 on the BSE. The stock has declined 26% year-to-date but has gained 45% in the past 12 months. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
