Kaynes Tech falls 10% as analysts cut targets; Kotak flags FY26 risk

• Kaynes Technology shares fell another 10% on Wednesday following price target cuts by Kotak Institutional Equities and Nomura.
• Nomura reduced its price target to ₹5,454 (from ₹8,478) but maintained a "buy" rating, while Kotak cut its target to ₹4,150 (from ₹6,180) and kept a "reduce" rating.
• A previous Kotak note highlighting disclosure discrepancies had triggered a sharp sell-off in the stock last week.
• Kotak continues to express concerns about intangible accounting, elevated working capital, and risks to the company's financial year 2026 guidance.
• JPMorgan advised investors to avoid "bottom-fishing" in the stock, despite maintaining an "overweight" rating, due to the unpredictable timing of a market bottom.

Why It Matters: Kaynes Tech investors face ongoing uncertainty and price drops due to financial disclosure concerns.