Kaynes Tech Shares Plunge 6%, ₹1,700 Cr Market Cap Wiped Out: Buy, Sell, or Hold?

• Kaynes Technology shares fell sharply by 6.5% today, marking its biggest intraday fall in nearly a month.
• The decline wiped out over ₹1,700 crore from the company's market capitalization in just a few minutes.
• Global brokerage Jefferies maintained a "Buy" rating but cut its target price for Kaynes Tech to ₹5,940, still suggesting a 55% upside.
• Management previously expressed confidence in meeting guidance and potential dividend payout, despite no direct company announcement for the fall.
• Analysts are divided: 14 'Buy', 8 'Hold', 4 'Sell' ratings; stock down 39% in 6 months, 48% in a year.

Why It Matters: Kaynes Tech shares plummet 6.5%, wiping out ₹1,700 Cr; analysts divided on future investment.