Kaynes Technology shares rally 9% after Union Cabinet gives green light to semiconductor unit

Shares of Kaynes Technology on Tuesday rallied 8.5% to its day’s high of Rs 5,052.25 after the company announced that Kaynes Semicon, a wholly owned subsidiary of the company received approval from the Union Cabinet for setting up an Outsourced Semiconductor Assembly and Test (OSAT) facility in Sanand, Gujarat.