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Keynes shares: On the last trading day of the week i.e. Friday, the stock market saw selling. Amid this selloff, shares of Canes Technology rocketed. The company’s deal has led to this rise in the stock. Let us know that an agreement has been signed between Kines Technology and the Karnataka government for an investment of 3,750 crore rupees.
Stock Status: In intra-day trade on Friday, shares of Keynes Technology rose 14 percent to Rs. 2,122.85 per scrip hit a record high. The stock is at a 52-week high. The stock touched its previous peak on July 26 of Rs. 1,908.65 has crossed. Let us tell that in December 2022, the share price was Rs 625.05. This is the 52 week low. Let us tell you that the IPO of Kaynes Technology was launched in November 2022. Its price band was ₹587. With Friday’s rally, the stock jumped 261 percent from its issue price.
What is the solution: Kaynes Technology said Kaynes Semicon Pvt Ltd will set up semiconductor assembly and testing (OSAT) facilities. MoU with Keynes Rs. 3,750 crore investment will put Karnataka at the forefront of OSAT and Printed Circuit Board (PCB). This is expected to generate 3200 jobs. At the same time, it will help make Karnataka a hub for advanced semiconductor manufacturing.