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Kaynes Shares Tumble After Lock-in Expiry
18 Nov
Summary
- Kaynes Technology stock fell 5.56% after lock-in expiry unlocked 20% equity.
- The company reported a 102% net profit jump for Q2FY26.
- Shares are up nearly 11x since listing but down 25% from January peak.
Kaynes Technology India experienced a notable stock decline, closing 5.56% lower at ₹5,890 on Tuesday after its shareholder lock-in period expired. This event freed approximately 11.6 million shares, constituting 20% of the company's outstanding equity, for trading. The unlocked shares represent a significant value, estimated at ₹7,233 crore based on the previous day's closing price.
Despite the recent drop, Kaynes Technology has demonstrated robust financial health. For the second quarter of fiscal year 2026, the company reported a substantial 102% increase in net profit, reaching ₹121.4 crore, alongside a 58.4% year-on-year revenue surge to ₹906.2 crore. EBITDA margins also saw improvement, climbing to 16.3% from 14.3%, and the company's order book expanded to ₹8,099.4 crore.
The stock's performance since its November 2022 listing has been remarkable, with shares appreciating nearly 11-fold from the IPO price of ₹587. However, it has retreated 25% from its January 2025 high of ₹7,824.95 and experienced a 22% decrease year-to-date. Tuesday's trading session was active, with over 3.1 million shares changing hands.
