Stock market today: S&P 500 falls as job cuts stoke economic fears, tech stutters
Investing.com - Jefferies raised its price target on Kaynes Technology India Ltd (NSE:KAYNES) to INR7,780.00 from INR7,600.00 while maintaining a Buy rating.
The research firm cited multiple growth levers for Kaynes despite the stock’s 60% rally since March 2025. Jefferies expects OSAT (Outsourced Semiconductor Assembly and Test) production to ramp up from fiscal year 2027, with estimated annual sales of Rs35 billion by fiscal year 2030.
Kaynes Technology plans to invest in Multi-layer and HDI PCB (Printed Circuit Board) manufacturing and has received approvals under ECMS (Electronic Contract Manufacturing Services).
The company’s profit doubled year-over-year in the September quarter, though working capital remains stretched at 116 days compared to 108 days last year.
Jefferies raised its earnings per share estimates by 4-6% and projects a 51% EPS compound annual growth rate over fiscal years 2025-2028.
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