Stock of this industrial products company has zoomed 293% so far in 2023

Shares of Kaynes Technology India hit a new high of Rs 2,954.20 on rallying 16 per cent on the BSE in Monday's intra-day trade

Shares of Kaynes Technology India rallied 16 per cent on the BSE to hit a new high of Rs 2,954.20 in Monday’s intra-day trade after the company joined hands with the Telangana government to set up a outsourced semiconductor assembly and testing (OSAT) and compound semiconductor manufacturing facility in the state. 

In an exchange filing, the company said the proposed facility by Kaynes will entail an investment of Rs 2,800 crore and will create direct employment for over 2,000 people.

The facility will come up in Kongara Kalan, adjacent to the upcoming electronics manufacturing facility of Foxconn.