Shares of Kaynes Technology India Ltd rose 2.26% to ₹6,439 on Monday after its subsidiary Kaynes Circuits India Pvt Ltd signed a non-binding Memorandum of Understanding (MoU) with the Government of Tamil Nadu. The stock opened higher and touched an intraday high of ₹6,515, pushing the company’s market capitalization to ₹41,462 crore.
The proposed investment of ₹4,995 crore over six years is intended to set up new manufacturing facilities, including greenfield projects and expansions within the state. The MoU aims to facilitate dialogue on industrial policy support, subsidies, and infrastructure assistance, though it is not a legally binding document.
The Tamil Nadu government, through its nodal agency Guidance, will support the project with regulatory approvals and policy-based incentives. The deal strengthens Kaynes’ presence in India’s fast-growing electronics manufacturing sector.
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