Kaynes Technology shares surged over 3% on Tuesday. The company received government approval for four PLI projects worth ₹3,200 crore. The company is preparing to commence production by March. This move is expected to boost PCB manufacturing in India and reduce import dependence.
Kaynes Tech share price: On Tuesday, Kaynes Technology's share price jumped over 3% to reach ₹6,965. Investor interest surged after the company's subsidiary received approval from the Ministry of Electronics and IT for four PLI proposals worth ₹3,200 crore. According to Ramesh Kunhikannan, MD of the company, the building will be ready by December, and production is expected to commence by March 2026. This will boost PCB manufacturing in the country and strengthen the 'Atmanirbhar Bharat' (Self-Reliant India) mission.
₹3,200 Crore Projects Get Green Light
Kaynes Circuit India Private Limited, a subsidiary of Kaynes Technology, has received government approval for four proposals. Ramesh Kunhikannan, the company's Managing Director, stated that under these projects, the company will manufacture multilayer Printed Circuit Boards (PCBs) and laminates in India.
The company has initiated investment in the construction of its manufacturing unit building. According to Ramesh Kunhikannan, this building will be fully ready by December, and the company aims to begin production by March 2026. He added that production could commence as early as the second quarter. This will not only enhance the company's production capacity but also reduce India's reliance on imported PCBs, thereby advancing the country towards self-reliance.
'Atmanirbhar Bharat' Mission to Gain Momentum
Ramesh Kunhikannan stated that the company's objective is to strengthen electronics manufacturing in India domestically. Currently, a significant volume of Printed Circuit Boards is imported into India from abroad, which not only increases costs but also impacts the supply chain.
The company's new investment will not only boost domestic production capacity but also create numerous employment opportunities. He believes that in the coming time, Kaynes Technology could become a major EMS (Electronics Manufacturing Services) hub for India.
Strong Stock Performance in the Market
Following the news of government approval, Kaynes Tech shares recorded a surge of 3.38% on Tuesday. Around 11:20 AM, the company's shares were trading at ₹6,965 on the NSE. During this period, its day's high was ₹6,998, and its low was ₹6,850.
The company's 52-week high is ₹7,822, and its low is ₹3,825.15. On Tuesday, its market cap surpassed ₹46,595 crore. Furthermore, the trading volume exceeded 7.23 lakh shares, indicating growing market interest in the company.
Investors Receiving Excellent Returns
Regarding recent performance, the stock has risen by 1.34% in the last week. However, it recorded a decline of approximately 5.20% in one month. Despite this, the stock has delivered a return of 26.11% within three months.
Since the beginning of 2025, it has seen a decline of 6.23%, but over the past year, it has shown an increase of 30.19%. This indicates that the company is demonstrating b long-term growth.
Momentum Seen in EMS Sector
Following the PLI approval from the Ministry of Electronics and IT, other stocks in the EMS sector also witnessed a rally. In addition to Kaynes Tech, shares of Syrma SGS Technology also jumped over 4% on Tuesday.
Experts believe that the government's PLI scheme will provide new impetus to India's electronics manufacturing sector. Companies like Kaynes Tech have the opportunity to fully capitalize on this opportunity, as they already possess technical expertise, a b production base, and long-term investment plans.
