Morgan Stanley (MS) has issued an “Overweight” rating on Kaynes Technology, setting a target price of ₹3,845 per share. The recent government approval for Kaynes’ semiconductor plant in Gujarat is viewed as a positive development, alleviating a significant area of investor concern that had been lingering.
Kaynes Technology had previously indicated that its Outsourced Semiconductor Assembly and Test (OSAT) venture could generate incremental potential revenue, further bolstering its growth prospects. This government approval is expected to pave the way for the company to capitalize on these opportunities, supporting its strong outlook.
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