BofA Securities Acquires Stake in Kaynes Technology Amid Stock Decline

Kaynes Technology India's shares declined over 2% amid a broader market selloff, despite BofA Securities acquiring 1.16 lakh shares worth Rs 42 crore in a block deal at a 3% discount. The stock has underperformed benchmarks, falling 14% over one year and 48% in six months. The company reported a 15% year-on-year profit growth to Rs 77 crore and a 24% revenue increase to Rs 849 crore in Q3 FY25, serving sectors like automotive and aerospace with IoT solutions.