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.
Kaynes Technology shares slid nearly 10% after its Q4 results failed to meet expectations. Investors reacted to a revenue guidance miss, deteriorating balance sheet metrics, and a sharp fall in profit. The stock dropped to about Rs 3,760 on the BSE as brokerages—including JPMorgan and Nuvama—turned cautious following the earnings report.
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