Kaynes Technology shares fall 5% on CEO exit; stock up 50% in 6 months
On the technical front, the stock is trading above its 50-day SMA of Rs 6,283.9 and 200-day SMA of Rs 5,777.9, underlining a bullish trend despite recent profit-booking.
- Sep 19, 2025,
- Updated Sep 19, 2025 1:56 PM IST
Shares of Kaynes Technology India Ltd declined 5 per cent in Friday’s trade after the company said that its chief executive officer (CEO), Rajesh Sharma, has tendered his resignation.
On Thursday, shares of Kaynes Technology slipped as much as 4.8 per cent to hit a day’s low of Rs 6,880.10 on the BSE, down from the previous close of Rs 7,229.05. By 12:44 pm, the stock had pared some losses and was trading 1.32 per cent lower at Rs 7,133.80. Meanwhile, over the past six months, the scrip has gained more than 50 per cent.
In a filing to the stock exchanges, Kaynes Technology said Sharma has decided to step down to pursue opportunities outside the organisation, with his resignation taking effect from October 31.
The company said that Sharma, who also served as key managerial personnel, has been with Kaynes for nearly four years. In his resignation letter addressed to Chairperson Savitha Ramesh and Managing Director Ramesh Kunhikannan, he highlighted the company’s journey during his tenure, from a successful IPO and public listing to overseas acquisitions and a market capitalisation crossing Rs 50,000 crore.
The journey with Kaynes Technology has been very fulfilling. At this juncture, it is time for me to embark on a new professional journey, Sharma wrote.
The stock currently shows an RSI of 75, indicating it is in the overbought zone, while the 14-day MFI stands at 97, Trendlyne data showed. Kaynes Technology has a beta of 1.5, reflecting high volatility. On the technical front, the stock is trading above its 50-day SMA of Rs 6,283.9 and 200-day SMA of Rs 5,777.9, underlining a bullish trend despite recent profit-booking.
Kaynes Technology India focuses on the design and manufacture of electronic modules and solutions for multiple industries. Its product range includes bare printed circuit boards, component-loaded PCBs, and interface cards. The company serves clients across sectors such as automotive, industrial, railways, aerospace and defence and medical.
Shares of Kaynes Technology India Ltd declined 5 per cent in Friday’s trade after the company said that its chief executive officer (CEO), Rajesh Sharma, has tendered his resignation.
On Thursday, shares of Kaynes Technology slipped as much as 4.8 per cent to hit a day’s low of Rs 6,880.10 on the BSE, down from the previous close of Rs 7,229.05. By 12:44 pm, the stock had pared some losses and was trading 1.32 per cent lower at Rs 7,133.80. Meanwhile, over the past six months, the scrip has gained more than 50 per cent.
In a filing to the stock exchanges, Kaynes Technology said Sharma has decided to step down to pursue opportunities outside the organisation, with his resignation taking effect from October 31.
The company said that Sharma, who also served as key managerial personnel, has been with Kaynes for nearly four years. In his resignation letter addressed to Chairperson Savitha Ramesh and Managing Director Ramesh Kunhikannan, he highlighted the company’s journey during his tenure, from a successful IPO and public listing to overseas acquisitions and a market capitalisation crossing Rs 50,000 crore.
The journey with Kaynes Technology has been very fulfilling. At this juncture, it is time for me to embark on a new professional journey, Sharma wrote.
The stock currently shows an RSI of 75, indicating it is in the overbought zone, while the 14-day MFI stands at 97, Trendlyne data showed. Kaynes Technology has a beta of 1.5, reflecting high volatility. On the technical front, the stock is trading above its 50-day SMA of Rs 6,283.9 and 200-day SMA of Rs 5,777.9, underlining a bullish trend despite recent profit-booking.
Kaynes Technology India focuses on the design and manufacture of electronic modules and solutions for multiple industries. Its product range includes bare printed circuit boards, component-loaded PCBs, and interface cards. The company serves clients across sectors such as automotive, industrial, railways, aerospace and defence and medical.