India's Kaynes Technology hits lower circuit on report co trims FY25 revenue outlook

Kaynes Technology India

28/01/2025 06:05

** Shares of Kaynes Technology India  KAYN.NS  fall to an
exchange-allowed maximum drop of 20% to 4214.5 rupees
    ** The electronics equipment maker trims its FY25 revenue
forecast to 28 bln rupees ($323.63 mln) from 30 billion rupees,
according to a CNBCTV18 report
    ** Co's Q3 profit grew 47%, but missed analysts' estimate,
according to data compiled by LSEG 
    ** More than 2 mln shares traded, 2.7x the 30-day avg
    ** Avg of analysts rating on KAYN is "hold", same as that on
peer Dixon Technologies  DIXO.NS ; their median PT on KAYN is
5563.5 rupees - LSEG data
    ** Stock rose 184% in 2024 vs a 173% gain in DIXO

   ($1 = 86.5180 Indian rupees)

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))