Kaynes Technology traded 8.14% higher at ₹5,786.30 at 10:45 AM on the NSE. The stock opened at ₹5,350.75, unchanged against its previous close. The stock rose to a day’s high of ₹5,838.85 in the early trade before cooling off to a day’s low of ₹5,314.10.
Despite yesterday’s loss the stock price continued to trade close to its 52-week high of ₹7,822 recorded on January 1, 2025.
Shares of Kaynes Technology fell 10% yesterday amid a broader sell-off in its peers following recent quarterly results. As per news reports, there were concerns over valuations.
Over the past 5 years, shares of Kaynes Technology have surged by 633%, representing a more than sevenfold increase.
In a meeting held on January 22, 2025, Kaynes Technology India Limited’s Board of Directors approved a plan to raise funds amounting to ₹16,000 million.
The company intends to issue instruments or securities, including equity shares, via public/private offerings, preferential allotments, or rights issues, subject to approval from the shareholders and relevant regulatory authorities.
To facilitate this process, a Committee of the Board will be formed to oversee the fundraising efforts. Additionally, a notice will be issued for a shareholder meeting to seek approval for the proposed fundraising initiative.
This move is aimed at strengthening the company’s financial position and enabling further business growth.
Kaynes Technology India Limited has taken a significant step towards advancing railway safety and infrastructure monitoring with the acquisition of a controlling 54% stake in Sensonic GmbH, Austria, through its wholly owned subsidiary, Kaynes Holding Pte. Ltd.
This strategic move reinforces Kaynes Technology’s commitment to innovative and sustainable solutions in the global infrastructure market.
Sensonic, renowned for its advanced fiber optic sensing technologies, specialises in applications like track condition monitoring, landslide detection, and AI-powered security enhancements.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 23, 2025, 10:58 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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