At 10:20 am today, the NSE reported that the shares of Kaynes Technology India Limited were trading at ₹4,246.05, down by ₹45.30 or 1.06%. The Managing Director of the company, Ramesh Kunhikannan, received a show-cause notice from SEBI on March 10, 2025. The notice alleges violations in the maintenance of Structured Digital Database (SDD) related to the company’s financial results for the period ended March 31, 2023, potentially violating SEBI’s Prohibition of Insider Trading Regulations.
In response to the notice, the Mysore-based company stated that they are reviewing the allegations and planning to take appropriate legal steps, including providing a timely response to SEBI. They emphasized their commitment to fully cooperate with SEBI to resolve the matter in accordance with the legal and regulatory framework.
The company’s shares are currently trading lower on the NSE, reflecting the market’s reaction to the news. More updates on this development are expected as the situation unfolds.
(Source: The Hindu Business Line)
