Shares of Kaynes Technology jumped to an intraday high of ₹4,129 on Thursday, recovering some lost ground after a steep 40% decline over the past month. The sharp fall had been triggered by Kotak Institutional Equities, which flagged inconsistencies in the EMS company’s related-party disclosures, raising investor concerns.
The stock later gave up part of its gains but still ended the session 3.5% higher at ₹4,027.50. Despite Thursday’s rebound, Kaynes Tech has managed to close in the green on only two of the last six trading sessions, highlighting continued volatility.
Brokerage Views on Kaynes Technology
According to ICICI Direct, the issues identified by Kotak appear to be disclosure-related discrepancies rather than signs of any fraudulent activity. The brokerage noted that these concerns are unlikely to impact the company’s financials and reiterated that Kaynes Technology’s long-term growth story remains intact.
The reassurance from brokerages helped calm market sentiment, contributing to the stock’s recovery during the session.
