Kaynes Technology falls after MD gets show-cause notice from India markets regulator

Kaynes Technology India

12/03/2025 04:19

** Shares of Kaynes Technology India Ltd KAYN.NS fall as much as 9.2% to 3,898 rupees

** Electronic products maker says its MD, Ramesh Kunhikannan got show-cause notice from India markets regulator, Securities and Exchange Board of India (SEBI)

** Adds, notice alleges violations in maintenance of structured digital database of results for period ended March 31, 2023

** Stock on track to fall for third straight day

** More than 919,000 shares traded as of 9:40 a.m. IST vs 30-day moving avg of over 1 mln shares

** Mean rating by 19 analysts covering the stock is 'buy'; median PT is 5,389.5 rupees - data compiled by LSEG

** KAYN last down 3.5%, adding to YTD losses of 42.1%

 (Reporting by Meenakshi Maidas in Bengaluru)

 ((meenakshi.maidas@thomsonreuters.com;))