Kaynes Technology Surges After MoU with Karnataka Government for Semiconductor Assembly

Kaynes Technology India has entered into a memorandum of understanding (MoU) with the Government of Karnataka (Electronics, IT and BT Department) to drive innovation. Kaynes Technology’s pivotal role positions it as the ESDM Semiconductor ecosystem’s anchor in Mysuru and this MoU will help in putting Mysuru on the global map.

Kaynes Semicon will lead the setup of a Semiconductor Assembly and testing (OSAT) facility and Kaynes Circuits India will spearhead the establishment of a Printed Circuit Board (PCB) manufacturing plant for producing complex multi-layered boards. The MoU with Kaynes will put Karnataka in the forefront of OSAT and PCB with an investment of Rs 3,750 crore which will help in creating 3,200 jobs by harnessing collective expertise, the partnership is primed to not only meet pressing demands but also position Karnataka as a hub for cutting-edge semiconductor manufacturing and cultivating a self-sustaining and self-reliant ecosystem.

The company undertakes “Build to Print” or “Build to Specifications” of complex box builds, sub-systems and products across various industry verticals. It undertakes turnkey electronics manufacturing services of PCBAs, cable harness, magnetics and plastics ranging from prototyping to product realization including mass manufacturing.

Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturing company. The company provides conceptual design, process engineering, integrated manufacturing, and life-cycle support for major players in the automotive, industrial, aerospace and defence, outer-space, nuclear, medical, railways, Internet of Things (“IoT”), Information Technology (“IT”) and other segments.

Today, the stock opened at Rs 1958.95, with a high and low of Rs 2122.85 and Rs 1930.40. The stock closed trading at Rs 1984.75, up by 6.75%. The stock has a 52-week high of Rs 2,122.85 and a 52-week low of Rs 625.05.

In the last six months, the shares of the company have given more than 120% returns, and in the last one year, the stock has given about 180% returns.

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