Kaynes Technology shares gained 3% in early trade after JPMorgan initiated coverage with an “Overweight” rating. The brokerage highlighted the company’s strong revenue growth potential, projecting a compound annual growth rate (CAGR) of 46% over FY25–28. Kaynes aims to reach $1 billion in revenue by FY28.
JPMorgan also pointed to broader sector tailwinds, calling India’s Electronic Manufacturing Services (EMS) industry a “sunrise sector,” with an expected 32% CAGR from FY25 to FY30. Growth drivers include higher electronics demand, government-led manufacturing incentives, and global supply chain shifts.
Kaynes Technology stock opened at ₹6,070.00 and touched an intraday high of ₹6,238.00, while the low remained at the opening level. The current price action keeps the stock well below its 52-week high of ₹7,822.00 but comfortably above its 52-week low of ₹3,726.00.
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