Kaynes Tech. India will hold a meeting of the Board of Directors of the Company on 29 October 2024.Powered by Capital Market - Live

Kaynes Technology India has been assigned credit ratings for bank facilities of Rs 431.2 crore at CARE A-; Stable / CARE A2+. Powered by Capital Market - Live

The domestic equity benchmarks traded with significant losses in afternoon trade as Middle East tensions escalate amid Israel-Lebanon conflict. The Nifty slipped below the 25,850 mark. Barring the Nifty Metal index, all the other sectoral indices on the NSE were traded in red. Investors are watching a busy week of US economic data, ending with the November jobs report. This report could greatly affect the Fed's decision on interest rate cuts. At 13:30 IST, the barometer index, the S&P BSE Sensex, tanked 1,167.90 points or 1.36% to 84,403.95. The Nifty 50 index dropped 341.30 points or 1.30% to 25,837.85. In the broader market, the S&P BSE Mid-Cap index fell 0.44% and the S&P BSE Small-Cap index shed 0.18%. The market breadth was negative. On the BSE, 1,598 shares rose and 2,363 shares fell. A total of 154 shares were unchanged. Economy: India's foreign exchange reserves climbed for the sixth consecutive week to a record high of $692.3 billion as of September 20, according to data released by the Reserve Bank of India on Friday (September 27). The reserves increased by $2.84 billion during the week, following a total rise of $19.3 billion over the previous five weeks. Foreign currency assets, the largest component of the reserves, rose to $605.7 billion from $603.6 billion in the previous week. Gold reserves increased, climbing to $63.6 billion from $62.9 billion. Special Drawing Rights (SDRs) stood at $18.5 billion, up from $18.4 billion. Meanwhile the reserve tranche position with the International Monetary Fund (IMF) fell slightly to $4.46 billion from $4.52 billion. Gainers & Losers: JSW Steel (up 2.64%), NTPC (up 1.61%), Hindalco Industries (up 1.43%), Tata Steel (up 1.15%) and Britannia Industries (up 1.05%) were major Nifty gainers. Hero MotoCorp (down 4.07%), Trent (down 2.96%), Reliance Industries (down 2.63%), Axis Bank (down 2.49%) and Tech Mahindra (down 2.36%) were major Nifty losers. Stocks in Spotlight: Kaynes Technology India slipped 2.19%. The company has entered into share purchase agreement (SPA) to acquire 100% stake in Iskraemeco India for total consideration of Rs 42 crore. Bajaj Steel Industries zoomed 16.43% after the company announced that its board will meet on Thursday, 03 October 2024, to consider the proposal for issuance of bonus shares to the shareholders of the company. Bajel Projects rallied 6.25% after the company announced that it had successfully entered the emerging data centre segment by securing its first order from an upcoming data centre service provider. Welspun Enterprises rose 1.34% after the company said that it has been declared as L1 bidder by the Brihanmumbai Municipal Corporation for design and construction of Tertiary Treated Water Conveyance Tunnel from Dharavi to Ghatkopar. Welspun Corp advanced 1.22% after the company received a prestigious order from the Middle East for supply of coated longitudinal submerged arc welding (LSAW) pipes and bends for sour service. Max Estates added 1.07% after the company said that its first residential development in Gurugram has garnered pre-sales booking value of Rs 4,100 crore, surpassing the guidance of Rs 4,000 crore provided by the company for FY25. Avantel jumped 6.47% after the company informed that it has received a purchase order for an amount of Rs 44.49 crore from Larsen & Toubro (L&T) for the supply of satcom systems. Global Markets: European shares declined while most Asian stocks traded lower on Monday as Middle East tensions offset China's stimulus measures. The Nikkei tumbled on concerns about Japan's new prime minister favoring higher interest rates. The Shanghai Composite surged over 4%, extending last week's 13% rally. China's central bank announced plans to reduce mortgage rates for existing home loans by the end of October, likely by an average of 50 basis points. This move is part of Beijing's largest stimulus package since the pandemic, which includes a range of monetary, fiscal, and liquidity support measures. Despite the stimulus, China's Caixin Manufacturing PMI declined from 50.4 in August to 49.3 in September, indicating a return to contraction. The manufacturing sector deteriorated in September after improving the previous month. Meanwhile, ongoing Israeli strikes in Lebanon increased geopolitical uncertainty. In the United States, the Dow closed at a record high on Friday, shrugging off tech sector volatility. Surging energy stocks and signs of cooling inflation boosted investor sentiment. The 30-stock Dow Jones Industrial Average gained 0.3%, reaching a new closing record of 42,313. The benchmark S&P 500 fell 0.2%, and the tech-heavy Nasdaq Composite was down 0.4%. The US Personal Consumption Expenditures index, the Fed's preferred inflation measure, showed that annual inflation decreased to 2.2% in August from 2.5% the month before. Fed Chair Jerome Powell is scheduled to deliver a closely watched speech on Monday.Powered by Capital Market - Live

The headline equity benchmarks traded with major cuts in early-afternoon trade as Middle East tensions escalate amid Israel-Lebanon conflict. The Nifty slipped below the 25,950 mark. Auto shares witnessed profit booking after advancing in the past two consecutive trading sessions. Investors are watching a busy week of US economic data, ending with the November jobs report. This report could greatly affect the Fed's decision on interest rate cuts. At 12:30 IST, the barometer index, the S&P BSE Sensex, tanked 946.14 points or 1.11% to 84,625.71. The Nifty 50 index dropped 275.10 points or 1.05% to 25,903.85. In the broader market, the S&P BSE Mid-Cap index fell 0.24% and the S&P BSE Small-Cap index shed 0.07%. The market breadth was negative. On the BSE, 1,602 shares rose and 2,319 shares fell. A total of 162 shares were unchanged. Economy: India's foreign exchange reserves climbed for the sixth consecutive week to a record high of $692.3 billion as of September 20, according to data released by the Reserve Bank of India on Friday (September 27). The reserves increased by $2.84 billion during the week, following a total rise of $19.3 billion over the previous five weeks. Foreign currency assets, the largest component of the reserves, rose to $605.7 billion from $603.6 billion in the previous week. Gold reserves increased, climbing to $63.6 billion from $62.9 billion. Special Drawing Rights (SDRs) stood at $18.5 billion, up from $18.4 billion. Meanwhile the reserve tranche position with the International Monetary Fund (IMF) fell slightly to $4.46 billion from $4.52 billion. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 6.81% to 12.78. The Nifty 31 October 2024 futures were trading at 26,065, at a premium of 161.15 points as compared with the spot at 25,903.85 The Nifty option chain for the 31 October 2024 expiry showed maximum Call OI of 64.9 lakh contracts at the 27,000 strike price. Maximum Put OI of 47.7 lakh contracts were seen at 26,000 strike price. Buzzing Index: The Nifty Auto index slipped 1.54% to 27,186. The index rallied 2.68% in past two consecutive trading sessions. Hero MotoCorp (down 3.93%), TVS Motor Company (down 3.04%), Bajaj Auto (down 2.42%), Mahindra & Mahindra (down 2.1%), Samvardhana Motherson International (down 2.09%), Tata Motors (down 1.27%), Maruti Suzuki India (down 0.85%), Balkrishna Industries (down 0.82%), Eicher Motors (down 0.8%) and MRF (down 0.74%) declined. Stocks in Spotlight : Kaynes Technology India slipped 2.24%. The company has entered into share purchase agreement (SPA) to acquire 100% stake in Iskraemeco India for total consideration of Rs 42 crore. Welspun Enterprises advanced 2.30% after the company said that it has been declared as L1 bidder by the Brihanmumbai Municipal Corporation for design and construction of Tertiary Treated Water Conveyance Tunnel from Dharavi to Ghatkopar.Powered by Capital Market - Live

Kaynes Semicon Private Limited is a wholly owned subsidiary of Kaynes Technology India. The proposed unit will be setup with an investment of Rs 3,300 crore. The capacity of this unit will be 60 lakh chips per day. The chips produced in this unit will cater to a wide variety of applications which include segments such as industrial, automotive, electric vehicles, consumer electronics, telecom, mobile phones, etc. The Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India was notified on 21 December 2021 with a total outlay of Rs. 76,000 crore. Kaynes Technology India (KTI) is an end-to-end and Internet of Things (IoT) solutions enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing (ESDM) services. The company's consolidated net profit surged to Rs 50.77 crore in Q1 FY25 as compared with Rs 24.64 crore posted in Q1 FY24. Revenue from operations jumped 69.59% YoY to Rs 503.97 crore in Q1 FY25. Powered by Capital Market - Live

Shares of the electronics manufactured company soared 19.34% in four trading sessions from its previous closing low of Rs 4,276.20 on 9 August 2024. The stock hit an all-time high of Rs 5,209.50 today. The counter has zoomed 198.31% from its 52-week low of Rs 1,710.70 hit on 16 August 2023. On the BSE, 17,485 shares were traded in the counter so far compared with average daily volumes of 17,511 shares in the past two weeks. The stock hit a high of Rs 5209.5 and a low of Rs 4815.3 so far during the day. The stock hit a 52-week high of Rs 5,209.5 on 16 August 2024. The stock hit a 52-week low of Rs 1,710.7 on 16 Aug 2023. The script had outperformed the market in past one month, gaining 22.62% as against 0.31% increase in the Sensex. The counter had outperformed the market in past one quarter, jumping 30.93% as against Sensex's 4.05% increase. The scrip had also outperformed the market in past one year, surging 196% as against Sensex's 22.73% rise. On the technical front, the stock's daily RSI (relative strength index) stood at 76.987. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 4,056.40, 3,423.94 and 3,045.93, respectively. These levels will act as crucial support zones in near term. Kaynes Technology India (KTI) is an end-to-end and Internet of Things (IoT) solutions enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing (ESDM) services. The company's consolidated net profit surged to Rs 50.77 crore in Q1 FY25 as compared with Rs 24.64 crore posted in Q1 FY24. Revenue from operations jumped 69.59% YoY to Rs 503.97 crore in Q1 FY25.Powered by Capital Market - Live

Revenue from operations jumped 69.59% YoY to Rs 503.97 crore in Q1 FY25. Profit before tax (PBT) stood at Rs 64.11 crore, steepy higher than Rs 31.86 crore posted in same quarter last year. EBITDA (excluding other income) increased 66% to Rs 66.9 crore during the quarter from Rs 40.3 crore posted in corresponding quarter last year. EBITDA margin contracted 27 bps to 13.3% in Q1 FY25 from 13.5% in Q1 FY24. Orderbook stood at Rs 5,038.6 crore as on 30 June 2024. Growth led by strong demand across all the verticals, more notably Industrial & EV, Aerospace, Outer-space & Strategic Electronics and Railways segment Ramesh Kunhikannan, Managing Director & Promoter, Kaynes Technology India, said, ''Kaynes achieved an impressive 70% revenue YoY growth in Q1FY25, driven by robust growth across all key verticals including Industrial & EV, Railways, Automotive and Aerospace, Outer-space & Strategic Electronics verticals with healthy profit margins. Our orderbook stood at Rs 50,386 million as of June 30, 2024, providing strong revenue visibility for FY25 and beyond. This gives us confidence to sustain our growth and achieve the revenue guidance for the current year. The working capital cycle has been at around 121 days during the current quarter, similar to Q1FY24 Further, Kaynes continues to invest in new initiatives & focus on high potential opportunities. These initiatives would strengthen the Company's competitive edge and make Kaynes, a differentiated player in this segment. We consistently add new capabilities across verticals and expand our customer base, with specific focus on large customers and high growth segments.' Meanwhile, the company's board approved the execution of the joint venture agreement (JVA) by and between Kaynes Holding Pte (Kaynes Singapore, a wholly owned subsidiary of the company), Sensonic GmbH and other existing shareholders of Sensonic Austria, for the proposed subscription of shares and acquisition of 54% by Kaynes Singapore in Sensonic Austria. The subscription of shares/ acquisition by Kaynes Singapore is subject to receipt of regulatory approvals under Investment Control Act of Austria and other regulatory approvals as applicable in the relevant jurisdictions. Kaynes Technology India (KTI) is an end-to-end and Internet of Things (IoT) solutions enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing (ESDM) services.Powered by Capital Market - Live

Kaynes Tech. India announced that the 16th Annual General Meeting (AGM) of the company will be held on 9 September 2024.Powered by Capital Market - Live

Net profit of Kaynes Technology India rose 106.00% to Rs 50.78 crore in the quarter ended June 2024 as against Rs 24.65 crore during the previous quarter ended June 2023. Sales rose 69.59% to Rs 503.98 crore in the quarter ended June 2024 as against Rs 297.18 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales503.98297.18 70 OPM %13.2713.55 - PBDT72.4837.13 95 PBT64.1231.86 101 NP50.7824.65 106 Powered by Capital Market - Live