New Delhi, Sept. 25 -- Shares of Kaynes Technology India Ltd have climbed about 5% over the past two days following the appointment of Muthukumar Narayanaswamy as managing director on Wednesday. The move comes amid a broader top-management reshuffle after chief executive officer Rajesh Sharma resigned last week.

Investors are cheering. The stock now sits just 3% below its 52-week high of Rs.7,822 after having gained about 22% over the past month, buoyed by optimism over the expected commissioning of its outsourced semiconductor assembly and testing (OSAT) facility in early October, a year after receiving all approvals. The facility, along with the printed circuit board (PCB) plant, would help Kaynes become an integrated electronics playe...