Vijay Shekhar Sharma’s role as the chief executive officer is among the items to be voted on at the company’s annual general meeting held virtually this afternoon. A proxy advisory firm last week recommended that shareholders replace the founder as CEO, citing concerns about his ability to reverse losses at the payments provider.
Kaynes shares plunge 43% from October peak. Is a tactical rebound on the cards or more pain ahead?
Kaynes has plunged 43.5% from its October peak, with Friday’s 12.5% drop marking the steepest single-day decline. Momentum indicators remain bearish, signaling a risk of