Electronics maker Kaynes Technology India rises after $2.5 mln acquisition

Kaynes Technology India

19/12/2023 06:01

** Shares of electronics manufacturer Kaynes Technology
India  KAYN.NS  rise as much as 5.5% 
        ** Co says it has 
    approved
     acquisition of peer Digicom Electronics in $2.5 mln deal
  
    ** KAYN currently up 4.7%, on track for seventh straight
session of gains; stock, however, set for smallest quarterly
growth since listing in 2022 
    ** Trading volumes nearly twice the 30-day moving avg 
    ** Avg rating of 12 analysts on KAYN at "buy"; median PT is
2,680 rupees vs current price of 2,723.55 rupees - LSEG data
    ** Including session's move, stock has more than doubled so
far this year
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))