Kaynes Technologies share price jumps over 2% as its arm signs MoU with Govt. of Tamil Nadu

Shares of Kaynes Technologies zoomed over 2.4% on Tuesday morning after the company announced an MoU with the Government of Tamil Nadu. The shares hit an intraday high of ₹6,515 apiece on the NSE in the opening hours and traded 0.7% higher at 10:55 am

Kaynes Technology India’s wholly owned subsidiary -- Kaynes Circuits India, has entered into a non-binding Memorandum of Understanding (MoU) on August 4, 2025, with the Government of Tamil Nadu for investment promotion and facilitation. Under the MoU, Kaynes Circuits India proposes to invest around ₹4,995 crore over 6 years for the establishment of manufacturing facilities, including greenfield projects and capacity expansions within Tamil Nadu.

The MoU is intended to explore the financial incentives and industrial policies available under the Government of Tamil Nadu, as well as any structured assistance packages that may support the proposed investment through subsidies and other financial benefits. The Government of Tamil Nadu, through Guidance, has agreed to provide necessary facilitation and support, including assistance with infrastructure and regulatory clearances, in line with applicable laws and policies. This MoU represents a statement of mutual intent and does not constitute a legally binding obligation on either party.

In the latest quarterly earnings, the company’s total revenue jumped 33% YoY to ₹673 crore as compared to ₹504 crore in the same period last year. On the operational efficiency front, the operating profit jumped 68% YoY to ₹113 crore as compared to ₹67 crore. Lastly, the net profit jumped 47% YoY to ₹75 crore as against ₹51 crore in the previous year’s similar quarter.

Kaynes Technology India is an end-to-end and IoT solutions-enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing (ESDM) services.