Shares of Kaynes Technology were trading nearly 7% up after the company invests 2800 crore in semiconductor packaging facility in Telengana.
In a strategic move poised to revolutionize the semiconductor industry, Kaynes Technology has announced a monumental investment of Rs 2800 crore in a state-of-the-art semiconductor packaging facility in Telangana.
This ambitious endeavor marks the company’s second Memorandum of Understanding (MoU) for semiconductor assembly and testing facilities, cementing its position as a major player in the semiconductor manufacturing landscape.
Earlier on August 24, Kaynes Tech inked an MoU with the Government of Karnataka for the establishment of Outsourced Semiconductor Assembly and Testing (OSAT) and Compound Semiconductor manufacturing facilities. This endeavor, involving a staggering investment of Rs 3750 crore, is anticipated to create direct employment for over 3200 individuals.
As of 10:15 AM, Kaynes Technology shares were trading at an impressive ₹2649.90, showing a notable 3.93% increase, or ₹100.20 higher than the previous value.
