Latest news with #Kunhikannan
News18
2 days ago
- Business
- News18
Kaynes Tech's promoter pares 1.8 pc stake for Rs 624 crore
Agency: PTI Last Updated: New Delhi, Jun 4 (PTI) A promoter of the Mysuru-based Kaynes Technology India on Wednesday divested a 1.8 per cent stake in the company for Rs 624 crore through open market transactions. According to the bulk deal data, promoter Ramesh Kunhikannan sold 6.25 lakh shares of Kaynes Technology India on the NSE and offloaded 5 lakh shares of Kaynes on the BSE — cumulatively a 1.8 per cent stake in the company. The shares were disposed of in the price range of Rs 5,550.87-5,553.03 apiece, taking the combined transaction value to Rs 624.58 crore. After the latest transaction, Kunhikannan's stake in Kaynes Technology India came down to 55.91 per cent from 57.71 per cent. Details of the buyers of Kaynes Technology India's shares could not be ascertained on the exchanges. Shares of Kaynes Technology India fell 0.97 per cent to close at Rs 5,730.05 apiece on the BSE, and dropped by 0.86 per cent to settle at Rs 5,738.50 per piece on the NSE. In a separate bulk deal on the NSE, the Motilal Oswal Foundation sold 37.04 lakh shares or 0.62 per cent stake in Motilal Oswal Financial Services for Rs 305 crore through an open market transaction. The shares were offloaded at an average price of Rs 825.01 apiece, taking the deal value to Rs 305.58 crore. First Published: June 05, 2025, 00:45 IST
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Business Standard
2 days ago
- Business
- Business Standard
E-commerce giant Flipkart offloads 6% stake in ABFRL; sells 73 mn shares
Carlyle Group affiliate firm, C A Dawn Investments, on Wednesday sold its entire 10.20 per cent in Indegene for ₹1,447 crore BS Reporter Flipkart Investments on Wednesday offloaded 6 per cent stake in Aditya Birla Fashion & Retail Ltd (ABFRL) for ₹588 crore. The e-commerce giant sold 73.17 million shares at ₹80.32 apiece. Shares of ABFRL fell nearly 11 per cent in secondary market trading to end at ₹76.8. Carlyle Group affiliate firm exits Indegene Carlyle Group affiliate firm, C A Dawn Investments, on Wednesday sold its entire 10.20 per cent in Indegene for ₹1,447 crore. It sold nearly 24.5 million shares at ₹591 apiece. Shares of Indegene fell 4.7 per cent to end at ₹590. Founder Kunhikannan sells 1.76% in Kaynes Ramesh Kunhikannan, founder, Kaynes Technology on Wednesday divested his 1.76 per cent stake in the firm. He sold 11.25 million shares at ₹5,551 apeice to raise ₹623 crore. Shares of Kaynes fell about a per cent to close at ₹5,730 crore. BS reporters Motilal Oswal Mutual Fund (MF) launched the first passive fund tracking the BSE 1000 index. The scheme Motilal Oswal BSE 1000 Index Fund, representing top 1000 listed companies offers exposure to about 94 per cent of the country's listed market capitalisation. The index at present has firms across 22 sectors. The top-10 stock weight is capped at 33 per cent to reduce concentration risk. Motilal Oswal is also in the process of finalising its plan to launch a scheme under the newly-introduced specialised investment fund (SIF) category in the next 6 months. Sekhmet Pharma appoints Santosh Mahil MD & CEO Private equity consortium led by PAG Sekhmet Pharmaventures has appointed Santosh Kumar Mahil (pictured) as the managing director (MD) and chief executive officer (CEO). Sekhmet is an investment platform that helps India's next generation of active pharmaceutical ingredient (API) companies. Mahil has nearly three decades of experience, having held leadership roles at Lupin, USV, Unichem, and Shilpa Medicare. BS reporter
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Business Standard
16-05-2025
- Business
- Business Standard
Kaynes Technology share price climbs 9% on strong Q4; profit surges 43% YoY
Kaynes Technology share price: Electronics manufacturing company Kaynes Technology share price were buzzing in trade on the last trading day of the week i.e. Friday, May 16, with the scrip rallying 8.51 per cent to hit an intraday high of Rs 6,836.10 per share. However, at 10:40 AM, Kaynes Technology share price pared gains, and was trading at ₹6,493.25, up 3.08 per cent. In comparison, BSE Sensex was trading 0.30 per cent lower at 82,283.88 level. What is the reason behind the rally in Kaynes Technology share price? Kaynes Technology share price zoomed after the company posted strong results in the fourth quarter of financial year 2025 (Q4FY25). The company's profit zoomed 43 per cent year-on-year (Y-o-Y) to ₹116.2 crore in the March quarter of financial year 2025 (Q4FY25), from ₹81.3 crore in the March quarter of financial year 2024 (Q4FY24). Its revenue surged 54 per cent annually to ₹984.5 crore, from ₹637.3 crore in Q4FY24. Subsequently, Ebitda margin expanded 211 basis points (bps) to 17.1 per cent in the March quarter of FY25, from 14.9 per cent in the March quarter of FY24. Ramesh Kunhikannan, managing director and promoter, Kaynes Technology India said, 'Our orderbook stood at ₹6,596.9 crore as of March 31, 2025, providing strong revenue visibility for FY26 and beyond, giving us confidence to sustain the growth momentum. Our Ebitda margins for FY25 grew to 15.1 per cent and the PAT margins improved to 10.8 per cent. This is a result of our constant endeavour to focus on complex and high margin segments. We expect to sustain this profitable growth and continue to work towards improving efficiencies.' 'With our recent acquisition of August Electronics in Canada, we have strengthened our North American footprint, added manufacturing capabilities in Canada and large high-margin customers. Following this acquisition, we are well positioned to present a compelling opportunity to these customers more comprehensively, positioning the Canada-India alliance as a strategic alternative to China-based sourcing. We are continuously looking to add new capabilities and geographies through a mix of organic and inorganic strategies,' Kunhikannan added. About Kaynes Technology Kaynes Technology is an integrated electronics manufacturer in India, offering comprehensive end-to-end and IoT-enabled solutions. With over 30 years of expertise in the Electronics System Design and Manufacturing (ESDM) sector, Kaynes provides a full spectrum of services—from conceptual design and process engineering to integrated manufacturing and complete life cycle support. The company serves a wide range of industries including Automotive, Industrial, Electric Vehicles (EVs), Aerospace, Space, Strategic Electronics, Medical, Railways, IoT, and Information Technology (IT). Kaynes operates 16 state-of-the-art manufacturing facilities capable of producing high-mix, high-value products at varying volumes to meet diverse industry needs.
