Kaynes Technology shares plunged about 20% to ₹3,339.25 after weaker-than-expected March-quarter earnings and a revenue guidance miss prompted multiple analyst downgrades. Brokerages flagged execution delays, stretched working capital and continued cash burn as key reasons investor sentiment is cooling. JP Morgan kept expectations for a strong 40%/45% revenue and earnings CAGR through FY26-28E, but downgraded the stock to Neutral and cut its price target sharply. The sell-off follows a massive 950% post-listing surge, then a 57% drop.
Dr Reddy’s shares dropped about 2% after Goldman Sachs downgraded the stock and Citigroup turned cautious. Brokerages pointed to limited growth visibility, pipeline concerns, and valuation risks, alongside generics pricing pressure. Citi also flagged muted near-term opportunities in semaglutide, prompting analysts to warn that downside risks may persist despite earlier optimism.
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