Kaynes Technology Rebounds as Brokerages See Upside Despite Sharp Monthly Fall

Shares of Kaynes Technology staged a 4% recovery to ₹4,033 after a month long 40% selloff driven by concerns around accounting practices in its smart meter segment. Thursday’s rebound was supported by oversold indicators and reassurance from major brokerages. Nomura reiterated its Buy call, trimming its target yet still projecting strong upside potential. Morgan Stanley also maintained a positive stance, citing long term growth drivers, expected improvements in working capital, and traction in new business verticals.