Kaynes Tech Plunges 5% Again as Kotak, Nomura Cut Targets

• Kaynes Technology stock fell 5% today, continuing a recent decline.
• Brokerage firms Kotak Institutional Equities and Nomura again cut their target prices for Kaynes Tech shares.
• Nomura reduced its target from ₹8,478 to ₹5,454 (retaining 'Buy'), while Kotak lowered its target from ₹6,180 to ₹4,150 (maintaining 'Reduce').
• Previous 12.5% drops were linked to Kotak's report highlighting disclosure discrepancies and concerns over intangible accounting and working capital.
• The stock had risen 14% on Tuesday and exited the F&O ban, but JPMorgan advised investors against "bottom-fishing."

Why It Matters: Kaynes Tech stock drops further due to brokerage target cuts and disclosure concerns.