Kaynes Technologies shares soar 40% in three days after Q4 results exceed Street expectations. Is it time to buy or sell
[hfe_template id='11223']
[ad_1]
Kaynes Technologies shares rallied over 40% in the last three trading sessions on BSE after the firm reported an upbeat January-March quarter performance. Meanwhile, in today's trade, the stock has surged 12% to hit a 52-week high of Rs 3,638.4. In Q4 FY24, Kaynes Tech's consolidated net profit jumped 96.8% year-on-year (YoY) to Rs 813 crore, while revenue from operations increased 74.8% YoY to Rs 637.3 crore. The growth was led by strong demand across all verticals, especially industrial & EV, aerospace, outer-space, and strategic electronics and railways segments. The company's EBITDA grew 60.5% YoY to Rs 952 crore in Q4FY24, but the EBITDA margin contracted by 134 basis points (bps) to 15%. Its order book stood at Rs 4,115 crore in FY24 as against Rs 2,648 crore in FY23. Should you buy, sell, or hold Kaynes Technologies' stock? Here's what analysts say: JM Financial JM Financial maintained its 'Buy' rati...