Kaynes Technology share value: Shares of Kaynes Technology India on Tuesday ended with a acquire of 17.5 per cent in its debut commerce in opposition to the problem value of Rs 587.

The inventory made its debut at Rs 775, a soar of 32 per cent from the problem value on the BSE. During the day, it rallied to Rs 787, up 34 per cent from its challenge value. Shares of the agency ended at Rs 690.10 per piece, up 17.56 per cent.

On the NSE, it was listed at Rs 778, a premium of 32.53 per cent. Later, the inventory jumped 16.73 per cent to finish at Rs 685.25 apiece.

In quantity phrases, 9.55 lakh shares of the agency had been traded on the BSE and over 1.56 crore shares on the NSE throughout the day.

In his advice, Zee Business Managing Editor Anil Singhvi mentioned, “Short term investors trail by placing a stoploss of Rs 700, while long term investors can HOLD.”

“Allottees who utilized for the general public challenge for itemizing premium are suggested to keep up a cease loss at Rs 710 and await additional upside whereas those that have medium to long-term perspective can maintain the inventory sustaining a cease loss at Rs 680, Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd mentioned recommending what ought to traders do?

The Initial Public Offering (IPO) of Kaynes Technology India had acquired 34.16 instances subscription. It comprised a contemporary challenge of Rs 530 crore and a proposal on the market of as much as 55,84,664 fairness shares with a value vary of Rs 559-587 a share.

Kaynes Technology is a number one end-to-end and IoT (Internet of Things) solutions-enabled built-in electronics manufacturing firm in India. It gives conceptual design, course of engineering, built-in manufacturing, and life-cycle help for main gamers in numerous industries.

The firm has reported sturdy monetary development, particularly in recent times, and its margins have additionally improved considerably. It has a diversified enterprise and buyer profile and sturdy enlargement within the order ebook.

The firm has eight manufacturing vegetation in Karnataka, Haryana, Himachal Pradesh, Tamil Nadu and Uttarakhand.

With PTI Inputs