Shares of Kaynes Technology rose by over 6% today after Nomura initiated a Buy call on the stock. The brokerage set a target price of ₹5,969 for Kaynes, highlighting strong growth potential in India’s electronics manufacturing services (EMS) sector.
Nomura expects the Indian EMS industry, valued at $25 billion in FY23, to grow at a 30% compound annual growth rate (CAGR), reaching $135 billion by FY30. It also forecasts an increase in domestic value addition in mobile manufacturing from 20% to 35% by FY30.
As of 10:24 am, Kaynes Tech shares were trading 5.97% higher at ₹4,941 on the NSE.
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Kaynes Technology