Kaynes Technology shares tumble 20% in early deals, here's why 

Shares of Kaynes Technology slipped 20% in early deals today after the firm revised its FY25 revenue guidance. The guidance has been lowered to Rs 2,800 crore from the previously forecasted Rs 3,000 crore. Kaynes Technology shares plunged 19.79% to Rs 4226 against the  previous close of Rs 5268.95 on BSE. Market cap of the firm slipped to Rs 27,445 crore.

Total 1.19 lakh shares of the firm changed hands amounting to a turnover of Rs 52.96 crore. Kaynes Technology shares have a one-year beta of 1.6, indicating very high volatility during the period. In terms of technicals, the relative strength index (RSI) of Kaynes Technology stands at 30.1, signaling it's trading neither in the overbought nor in the oversold zone.

Kaynes Technology shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day 100 day, 150 day and 200 day moving averages.

Net profit rose 47% year-on-year (YoY) to Rs 66.5 crore in Q3 FY25. Revenue for the quarter climbed 30% to Rs 661.2 crore compared to Rs 509.3 crore in Q3 FY24. EBITDA (excluding other income) also rose 35% YoY to Rs 94 crore from Rs 69.90 crore in the same period last year.

Kaynes Technology India is primarily engaged in design and manufacturing of advanced electronic modules and solutions catering to a wide range of industries.