Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Kaynes rallies on semicon plans
Mint Mumbai
|September 26, 2025
Shares of Kaynes Technology India Ltd have climbed about 3.5% over the past two days following the appointment of Muthukumar Narayanaswamy as managing director on Wednesday.
The move comes amid a broader top-manage-ment reshuffle after chief executive officer Rajesh Sharma resigned last week.
Investors are cheering. The stock now sits just 4% below its 52-week high of ₹7,822 after having gained about 20% over the past month, buoyed by optimism over the expected commissioning of its outsourced semiconductor assembly and testing (OSAT) facility in early October, a year after receiving all approvals. The facility, along with the printed circuit board (PCB) plant, will help Kaynes become an integrated electronics player from an electronics manufacturing services (EMS) provider. Kaynes has secured customers for 100% of the OSAT unit's output. The Sanand, Gujarat facility, being set up with an investment of ₹3,300 crore, is projected to generate ₹650 crore in revenue by FY27 and scale to ₹3,000 crore by FY30.
This story is from the September 26, 2025 edition of Mint Mumbai.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Mumbai
Mint Mumbai
In a sea of tech talent, companies can’t find the workers they want
There has rarely, if ever, been so much tech talent available in the job market. Yet many tech companies say good help is hard to find.
4 mins
October 03, 2025
Mint Mumbai
Hexaware sued for $500 million in US over patent breach
American IT services firm Natsoft Corp. has sued Hexaware Technologies Ltd for breach of contract and patent infringement, seeking $500 million in damages from the latter, in one of the biggest patent cases against an Indian IT firm.
3 mins
October 03, 2025
Mint Mumbai
GST boom ahead?
India's latest goods and services tax (GST) revenue figures paint an optimistic picture.
1 min
October 03, 2025
Mint Mumbai
H-1B clampdown may extend to US college faculty
Rising anti-immigration sentiment in the US is no longer confined to moves to limit foreign technology workers from entering the country.
2 mins
October 03, 2025
Mint Mumbai
FPIs pull record ₹2 tn on valuations, weak rupee
Heavy outflows could cap market gains; Nifty returns just 0.3% in dollar terms
2 mins
October 03, 2025
Mint Mumbai
Instant grocery delivery is going luxe to stand out
Blinkit joins the race as it expands to ozone-washed fruits and artisanal breads to cheese
2 mins
October 03, 2025
Mint Mumbai
Next-gen reforms to tackle land, women's participation
The initiatives seek to tackle some of the intractable challenges in India's development story
2 mins
October 03, 2025
Mint Mumbai
Why India's best students face a tough job market
Students entering this year's placement season are stepping into a rough job market.
2 mins
October 03, 2025
Mint Mumbai
Govt scans e-commerce cos’ COD charges, refund delays
The government will examine if cash-on-delivery charges imposed by online retailers are aimed at nudging consumers to pay upfront, and why refunds are delayed or blocked if prepaid orders are cancelled, said two people aware of the matter.
2 mins
October 03, 2025
Mint Mumbai
WHY INDIA IS SEEKING A NEW SUNRISE IN JAPAN
India missed out on Japanese investment in its initial post-reform years. That could change now
7 mins
October 03, 2025
Listen
Translate
Change font size