Latest news with #KaynesTechnology
Economic Times
5 days ago
- Business
- Economic Times
Kaynes' Sanand OSAT set to go live by December
Mysuru-based electronics manufacturing services (EMS) and design firm Kaynes Technology's Sanand-based outsourced semiconductor assembly and test (OSAT) plant is expected to be operational by December, said Kaynes Semicon chief executive Raghu Panicker.'We will provide the first sample by September 15. The clean room has been set up and now the equipment and raw materials are coming in,' he told ET. Kaynes Technology received an approval from the Union cabinet in September last year for setting up an OSAT facility in Sanand, Gujarat, with a Rs 3,307 crore investment. The capacity of this unit will be 6.3 million chips per day. ET reported on August 4 that Kaynes Circuits India may invest more than Rs 4,000 crore in setting up an advanced electronic component manufacturing facility in Thoothukudi, Tamil Nadu. The plant would produce 74-layer printed circuit board (PCB), high-density interconnect PCB, flexible PCB, high-performance laminates, camera module assembly and wire harness assembly. In June, Kaynes Semicon and L&T Semiconductor Technologies (LTSCT) acquired Japanese Fujitsu General's power modules business for Rs 118.34 crore. Fujitsu will transfer the business to Larsen & Toubro's fabless chip company and related production facilities to Kaynes Semicon, which will in turn manufacture these products for LTSCT, the companies had said. In May, Kaynes Semicon, a 100% subsidiary of Kaynes Technology India, opened its first overseas chip design centre in Muscat, Oman. At its headquarters Mysuru, the company is providing EMS for smart meters and servers at a facility spread over 17 acres of land, and is proving services to multinational conglomerate Honeywell. Kaynes Semicon's multilayer high-density interconnect PCB facility in Chennai, being built with an investment of $150-250 million will go live by January next year, Panicker said, adding, 'We've already started the construction. By the end of the year the first product should be ready.'Apart from the bare board PCB plant in Chennai Kaynes Technology and its subsidiaries have 12 PCB assembly plants in India and three plants outside India, in the US, Canada and Austria. 'The Oakland plant is going well with a lot of defence business coming in. The products from that plant are for local consumption. It's for the US,' Panicker per the company's full-year revenue guidance of Rs 4,500 crore, it is expecting Rs 4,250 crore from its core EMS, electronics system design and manufacturing operations, Rs 100 crore from its OSAT facility and Rs 175 crore from the acquisition of August Electronics in Canada."We've acquired a company in Calgary, Canada, called August Electronics where we do PCB assembly. We've also acquired a company called Sensonic in Scharding, Austria, where also we do PCB assembly. We have also acquired Digicom Electronics in Oakland, California. These acquisitions were made two years, one and a half years and six months back,' Panicker also hinted at future acquisitions, particularly in North America and Europe, to deepen the company's design capabilities and enter new high-margin regions are being targeted not just for geographic diversification but also to strengthen the company's design and original design manufacturing capabilities, particularly in high-value verticals such as industrial automation, railways and advanced Semicon is evaluating opportunities to acquire companies that will help its embedded design and prototyping expertise. Strategic equity stakes in OSAT In its OSAT business, the company is building long-term global relationships by offering minority equity stakes to key technology partners and clients. US Tech India Pvt. Ltd. has been allotted a 10% stake and AOS (Advanced Optoelectronic Solutions) has been allotted 8.25% stake in the OSAT stakes are designed to ensure business continuity. These partners are also supplying critical bottleneck model enables Kaynes Semicon to become the preferred manufacturing partner for their future high-tech product lines, including advanced packaging, silicon photonics and artificial intelligence (AI)-driven hardware. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. As RBI retains GDP forecast, 4 factors that will test the strength of Indian economy Is Shadowfax closing in on its closest rival? Can Coforge's ambition to lead the IT Industry become a reality? Berlin to Bharuch: The Borosil journey after the China hit in Europe Stock Radar: Syngene International showing signs of momentum after falling 26% from highs; what should investors do? Two Trades for Today: A life insurance major for a 4.85% upmove, a mid-cap diesel engine maker for almost 7% rise Multibagger or IBC - Part 18: This auto ancillary started with wheels. It now also powers wind & war Auto stocks: Yes, headwinds in the short term, but will structural change become tailwinds and prove analysts wrong?
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Business Standard
7 days ago
- Business
- Business Standard
Kaynes Technology rises 3% as arm inks MoU with Tamil Nadu govt; Details
Kaynes Technology India shares rose 3.4 per cent, on Tuesday, August 5, 2025, and logged an intra-day high at ₹6,515 per share on BSE. At 11:20 AM, Kaynes Technology share price was up 2.45 per cent at ₹6,450 per share. In comparison, the BSE Sensex was 0.47 per cent lower at 80,640.29. Why were Kaynes Technology shares in demand? The buying on the counter came after company arm Kaynes Circuits India entered into a Memorandum of Understanding (MoU) with the Government of Tamil Nadu for investment promotion and facilitation. "We wish to inform you that Kaynes Circuits India Private Limited, a wholly owned subsidiary of Kaynes Technology India Limited, has entered into a non-binding Memorandum of Understanding (MoU) on 04th August 2025 with Government of Tamil Nadu for investment promotion and facilitation," the filing read. Under the MoU, Kaynes Circuits India proposed to invest approximately ₹4,995 crore over a period of six years for the establishment of manufacturing facilities, including greenfield projects and capacity expansions within Tamil Nadu. The MoU is intended to explore the financial incentives and industrial policies available under the Government of Tamil Nadu, as well as any structured assistance packages that may support the proposed investment through subsidies and other financial benefits. Kaynes Circuits India is a wholly owned subsidiary of Kaynes Technology India equipped to produce Multilayer PCBs up to 74 Layers, HDI PCBs up to 8 Layers, and Flexible PCBs, supporting critical applications across sectors such as Aerospace, Defence, Artificial Intelligence, Backplanes, Drones, Medical Devices, Telecom Infrastructure, Smartphones, Wearables, Copper Clad Laminate (CCL) manufacturing, designed to produce high-performance laminates suitable for HighFrequency, Radars, and Low Signal loss applications and other advanced electronic domains. Besides, Kaynes Technology in Q1FY26 reported a profit after tax (PAT) of ₹74.6 crore, as compared to ₹50.8 crore a year ago, marking a 47 per cent increase. Consolidated revenue surged 34 per cent year-on-year (Y-o-Y) to ₹673.5 crore during the quarter under review. The same stood at ₹504 crore during the first quarter of the last financial year.
Economic Times
7 days ago
- Business
- Economic Times
Kaynes Technology shares jump over 3% as unit inks Rs 4,995 crore investment MoU with Tamil Nadu
Shares of Kaynes Technology jumped 3.5% to their day's high of Rs 6,515 on the BSE on Tuesday after its wholly owned subsidiary signed a non-binding Memorandum of Understanding (MoU) with the Government of Tamil Nadu for a proposed investment of Rs 4,995 crore over six years to set up new manufacturing facilities in the state. ADVERTISEMENT The electronics component maker said on Monday that the investment, to be undertaken by Kaynes Circuits India Private Limited, will include greenfield projects and capacity expansions. The state government will facilitate discussions around financial incentives, industrial policies, and structured assistance packages. In a stock exchange filing, Kaynes Technology said the Tamil Nadu government, through its nodal agency Guidance, has "agreed to extend necessary support in terms of infrastructure facilitation and regulatory clearances in accordance with applicable laws and policies." The announcement comes on the heels of strong first-quarter earnings. Net profit for the three months ended June rose 47% year-on-year to Rs 74.6 crore. EBITDA also rose sharply by 68% to Rs 113 crore in Q1 improved to 16.7%, up from 13.3% in the same period last year, reflecting better operational efficiency. Revenue for the June 2025 quarter stood at Rs 673.4 crore, marking a 33.6% year-on-year increase. ADVERTISEMENT Shares of Kaynes Technology ended Monday's session down 1.15% at Rs 6,297.00 on the BSE. The stock is down 17% so far in 2025 but remains up 9% over the past three the stock is trading above all its key simple moving averages (from 5-day to 200-day), indicating bullish momentum across short- to long-term time frames. The Relative Strength Index (RSI) stands at 62.9, suggesting the stock is neither overbought nor oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 38.6, staying above both the center and signal lines, another sign supporting continued bullish sentiment. ADVERTISEMENT Also read | NSE reaches Rs 40 crore settlement with Sebi over data disclosure case (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
7 days ago
- Business
- Economic Times
Kaynes Technology shares in focus as unit inks Rs 4,995 crore investment MoU with Tamil Nadu
Kaynes Technology's shares are in focus after its subsidiary signed an MoU with the Tamil Nadu government for a Rs 4,995 crore investment to set up new manufacturing units. This comes alongside strong Q1 results, with profit up 47% and EBITDA surging 68%. Despite a YTD decline, technical indicators suggest continued bullish momentum for the stock. Tired of too many ads? Remove Ads Q1 Earnings Tired of too many ads? Remove Ads Stock Performance and Technical Outlook Shares of Kaynes Technology are set to be in focus on Tuesday after its wholly owned subsidiary signed a non-binding Memorandum of Understanding (MoU) with the Government of Tamil Nadu for a proposed investment of Rs 4,995 crore over six years to set up new manufacturing facilities in the electronics component maker said on Monday that the investment, to be undertaken by Kaynes Circuits India Private Limited , will include greenfield projects and capacity expansions. The state government will facilitate discussions around financial incentives, industrial policies, and structured assistance a stock exchange filing, Kaynes Technology said the Tamil Nadu government, through its nodal agency Guidance, has "agreed to extend necessary support in terms of infrastructure facilitation and regulatory clearances in accordance with applicable laws and policies."The announcement comes on the heels of strong first-quarter earnings. Net profit for the three months ended June rose 47% year-on-year to Rs 74.6 crore. EBITDA also rose sharply by 68% to Rs 113 crore in Q1 improved to 16.7%, up from 13.3% in the same period last year, reflecting better operational efficiency. Revenue for the June 2025 quarter stood at Rs 673.4 crore, marking a 33.6% year-on-year of Kaynes Technology ended Monday's session down 1.15% at Rs 6,297.00 on the BSE. The stock is down 17% so far in 2025 but remains up 9% over the past three the stock is trading above all its key simple moving averages (from 5-day to 200-day), indicating bullish momentum across short- to long-term time frames. The Relative Strength Index (RSI) stands at 62.9, suggesting the stock is neither overbought nor oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 38.6, staying above both the center and signal lines, another sign supporting continued bullish sentiment.
Time of India
7 days ago
- Business
- Time of India
Kaynes Technology shares in focus as unit inks Rs 4,995 crore investment MoU with Tamil Nadu
Q1 Earnings Live Events Stock Performance and Technical Outlook (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Kaynes Technology are set to be in focus on Tuesday after its wholly owned subsidiary signed a non-binding Memorandum of Understanding (MoU) with the Government of Tamil Nadu for a proposed investment of Rs 4,995 crore over six years to set up new manufacturing facilities in the electronics component maker said on Monday that the investment, to be undertaken by Kaynes Circuits India Private Limited , will include greenfield projects and capacity expansions. The state government will facilitate discussions around financial incentives, industrial policies, and structured assistance a stock exchange filing, Kaynes Technology said the Tamil Nadu government, through its nodal agency Guidance, has "agreed to extend necessary support in terms of infrastructure facilitation and regulatory clearances in accordance with applicable laws and policies."The announcement comes on the heels of strong first-quarter earnings. Net profit for the three months ended June rose 47% year-on-year to Rs 74.6 crore. EBITDA also rose sharply by 68% to Rs 113 crore in Q1 improved to 16.7%, up from 13.3% in the same period last year, reflecting better operational efficiency. Revenue for the June 2025 quarter stood at Rs 673.4 crore, marking a 33.6% year-on-year of Kaynes Technology ended Monday's session down 1.15% at Rs 6,297.00 on the BSE. The stock is down 17% so far in 2025 but remains up 9% over the past three the stock is trading above all its key simple moving averages (from 5-day to 200-day), indicating bullish momentum across short- to long-term time frames. The Relative Strength Index (RSI) stands at 62.9, suggesting the stock is neither overbought nor oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 38.6, staying above both the center and signal lines, another sign supporting continued bullish sentiment.
