Kaynes Tech News

Kaynes Technology shares rose 4.2% on December 9 after a 30% drop over four sessions. Concerns arose from FY2025 disclosure inconsistencies. Analysts urge stronger cash flow and changes to rebuild trust, with target prices suggesting nearly 100% upside potential.

The Indian stock market experienced widespread selling on December 8, with the Nifty 50 down 0.86% and key indices closing lower. Realty stocks and PSU banks were hit hard. Kaynes Technology share price came under another round of selling pressure, falling 12%.

Kaynes Technology's shares plummeted 7.4% to ₹4,030, continuing a trend of decline after a 21% drop last week. Concerns over FY2025 financial disclosures from Kotak sparked investor panic, leading to substantial losses for mutual funds involved.

Kaynes Technology shares dropped over 13% after brokerages raised concerns about accounting discrepancies and working capital pressures. The stock ended 12.45% lower at ₹4358.60, facing scrutiny over its financial disclosures and inter-company transactions, leading to investor caution.

Indian stocks fell on November 18, with benchmark indices dropping over 0.40% due to a sell-off in metals and tech sectors. The Nifty 50 and S&P BSE Sensex ended at 25,892 and 86,625, respectively, ending six-day winning streak amid weak global sentiment.

Kaynes Technology share price fell nearly 6% after its lock-in period expired, releasing 11.6 million shares for trading, representing 20% of its equity. The company's Q2 profit rose 102% to ₹121.4 crore, while revenue increased 58.4% to ₹906.2 crore.

Kaynes reported strong Q2 results with a 61% sequential jump in net profit, but its aggressive acquisition strategy has severely strained its working capital.

Shares of EMS companies like Kaynes Technologies and Syrma SGS Technology rose on October 28 after the government approved seven projects worth ₹5,532 crore under the Electronics Components Manufacturing Scheme, aiming to reduce imports and boost domestic manufacturing in India.