Kaynes Technology India hits record high on MoU with Karnataka govt

Kaynes Technology India

25/08/2023 08:36

** Shares of Kaynes Technology India  KAYN.NS  up as much as
15.79% to a record high of 2,149.95 rupees
    ** Stock hits sharpest intraday pct gain since May 17; on
track for fifth consecutive session of gains 
    ** Electronics manufacturer said it entered into MoU with
Karnataka govt for an investment of 37.50 billion rupees
($453.74 million)
    ** Analysts' average rating close to equivalent of "buy"
with median PT of 2,072.5 rupees
    ** About 873,994 shares change hands as of 12:57 p.m. IST,
4.2x 30-day average 
    ** Stock up more than 160% since listing in Nov 22, as of
last close

($1 = 82.6469 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))