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Macquarie initiates Kaynes Technology India stock with Outperform rating

Published 04/09/2025, 08:34
Macquarie initiates Kaynes Technology India stock with Outperform rating
KAYN
0.09%

Investing.com - Macquarie initiated coverage on Kaynes Technology India Ltd (KAYNES:IN) with an Outperform rating and a price target of INR7,700.00 on Thursday.

The research firm cited Kaynes’ aggressive strategy for higher value addition, international expansion, and backward integration as factors that should establish its position as a leading ESDM company in India.

Macquarie expects Kaynes to invest recently raised capital into new products, geographic expansion, and mergers and acquisitions, which could further improve its financial profile.

These investments could potentially lead to a re-rating of the stock, according to the research firm’s analysis.

Macquarie’s DCF-based target price of Rs7,700 implies a fiscal year 2028 estimated EV/EBITDA multiple of 34x for Kaynes Technology India .

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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