Kaynes Tech shares plunge 12% as management addresses concerns; F&O ban imposed

• Kaynes Tech shares fell 12% on Monday, extending losses after its worst week since listing, now down 50% from its record high.
• Management clarified no intangible assets in the Sensonic acquisition and confirmed financial statements are reliable, refuting Kotak's report.
• The company acknowledged a typo and an omission in related party disclosures, which will be corrected.
• Kaynes Tech plans to reduce reliance on Smart Meters, focusing on growth in automotive, industrials, railways, and electronics.
• Promoters have no plans to pare their 53.46% stake; JPMorgan advised against bottom-fishing until Q3 results.

Why It Matters: It highlights investment risks and financial clarity issues for Kaynes Tech investors.