Here's why November 18 is an important session for Kaynes Tech shares

Kaynes Technology India Ltd. are trading with losses in Friday's trading session. The stock has fallen in the last four trading sessions.

November 18 will be an important session as its shareholder lock-in will end during this session.

As many as 11.6 million shares of Kfin Technologies will free up for trading once that lock-in period ends on November 18.

The number of shares that will free up for trade amount to 20% of the outstanding equity of the company.

It must be specified that the end of a lock-in period does not mean that all of those shares will be sold in the open market, but will only become eligible to be traded.

Kaynes Technology India Ltd. reported its earnings for the September quarter on November 4. The company's net profit for the quarter under review increased 102% to ₹121.4 crore.

Its revenue was up 58.4% at ₹906.2 crore. EBITDA rose 80.6% to ₹148 crore. Its margin expanded to 16.3%.

The company's order book grew to ₹8,099.4 crore in the September quarter, compared to ₹5,422.8 crore in the same period last year.

Since its IPO at ₹587 per share, the stock has surged nearly 11 times.

The stock is currently trading 0.59% lower at ₹6,339. On a year-to-date basis, the stock is down 17%.