Smallcap World Fund buys 0.66% of Kaynes Technology for Rs 188 crore

• Smallcap World Fund acquired a 0.66% equity stake in Kaynes Technology India for Rs 188 crore through open market transactions on December 12.
• The acquisition involved 4.46 lakh shares of Kaynes Technology at Rs 4,206.38 per share.
• Kaynes Technology's stock recently rallied after a significant drop, despite earlier governance and accounting concerns raised by Kotak Institutional Equities.
• Brokerages like ICICI Direct, Prabhudas Lilladher, and Macquarie maintain positive outlooks on Kaynes Technology, believing its growth story remains intact.
• Separately, 3P India Equity Fund, Bandhan Mutual Fund, and Morgan Stanley acquired a 0.75% stake in Usha Martin for Rs 98.9 crore via block deals.

Why It Matters: Large fund investment validates Kaynes Technology's growth despite past concerns.