Kaynes Technology jump nearly 16% to hit record high on signing MoU with Telangana government for semiconductor plant

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Kaynes Technology India Ltd shares soared nearly 16 percent to hit a 52-week high on Monday after the company announced the signing of a Memorandum of Understanding (MoU) with the Telangana government to set up a Rs 2,800 crore facility for outsourced semiconducto.r assembly and test (OSAT) in Hyderabad.

The indigenous electronics contract manufacturing service provider on Friday announced that it has signed a memorandum of understanding with the Telangana government to set up a semiconductor OSAT and compound semiconductor factory in the state.

 The planned factory will be located in Kongara Kalan, adjacent to Foxconn’s future electronics manufacturing facility in south Hyderabad.

Kaynes Technology

 The company said the facility would require an estimated investment of Rs 2,800 crore and create employment opportunities for around 2,000 people. 

Kaynes Technology is a 30-year-old company that has entered its OSAT/AMP services under its subsidiary Kaynes Semicon. In his first three years, Keynes Semicon provides his QFN, SOT, TO, BGA, and FC-BGA power device packages to customers all over the world. Keynes Semicon has collaborated with Bombay Institute of Technology to establish an R&D center for packaging research, the company said. 

Kaynes Technology is engaged in integrated electronics manufacturing and provides end-to-end IoT enabled solutions. With our expertise in electronic systems development and manufacturing services, we serve a variety of industries including automotive, industrial, aerospace, defense, space, nuclear, medical, rail, IoT, and IT.

 Keynes Technology shares were trading 6.06 per cent higher at Rs 2,703.80 at 10:11 am on BSE.r assembly and test (OSAT) in Hyderabad.

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