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Kaynes Tech slips in trade after big bang listing. Experts see long-term prospect

The company has a diversified portfolio as well as business model having applications across automotive, industrials, aerospace and defence, medical devices, railways and internet of things (IoT).

NOIDA / November 22, 2022 / 17:37 IST
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Kaynes Technology, a leading end-to-end IoT solutions-enabled integrated electronics manufacturing company, listed on bourses with a bang on November 22, but the stock slipped over 11 percent as the day progressed.

Most analysts Moneycontrol spoke to suggested holding the stock but warned that it had debuted at a premium of 32 percent over the issue price.

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“Healthy premium listing is justified on the back of a niche business segment with acceptable valuations for a fancy sector demand along with strong order book and unlimited export opportunity in the long run,” said Prashanth Tapse, Senior Vice President for Research at Mehta Equities. “We remain optimistic in this space and believe Kaynes Tech would do well in the long term as the industry has bright prospects.”

He mentioned that a risk-taker can hold Kaynes for some more time for higher returns with risk and investors should avoid adding more shares on the listing day itself.