This share became 5 times the IPO price, reached near record high after huge profits

Shares of Kaynes Technology rose by more than 18% on Friday to reach Rs 3049.75. In just one and a half years, the company's shares have increased more than 5 times from their IPO price.

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There has been a tremendous rise in the shares of Keynes Technology, a company related to industrial products industry. Shares of Kaynes Technology rose by more than 18 percent on Friday to reach Rs 3049.75. The shares of the company are very close to their 52 week high level of Rs 3248. This surge in shares of Kaynes Technology has come after strong profits for the March 2024 quarter. The company's profit has increased by 97% to Rs 81 crore in the March 2024 quarter. In the same period a year ago, Keynes Technology had made a profit of Rs 41 crore.

Company's shares became 5 times the IPO price

The IPO of Kaynes Technology was opened on 10 November 2022 and it remained open till 14 November. The company's share price in IPO was Rs 587. Shares of Kaynes Technology were listed at Rs 775 on November 22, 2022. Since the listing, there is a good rise in the shares of the company. The shares of the company have reached Rs 3049.75 on 17 May 2024. The company's shares have become 5 times the IPO price of Rs 587. The 52 week low level of the company's shares is Rs 1120.05.

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Shares rose by more than 160% in one year

Kaynes Technology shares have seen a rapid rise in the last one year. The company's shares have risen more than 160% in the last one year. The company's shares were at Rs 1165.85 on May 17, 2023. Shares of Kaynes Technology have reached Rs 3049.75 on 17 May 2024. At the same time, in the last 6 months, shares of Keynes Technology have seen a rise of 23%. Promoters' stake in Keynes Technology is 57.83 percent, while public shareholding is 42.17 percent. In the third quarter of FY 2024, the order book of Kaynes Technology was Rs 3789 crore, which has increased to Rs 4115 crore in the fourth quarter.