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Kaynes Technology slides sharply after brokerage flags accounting and governance concerns
Kaynes Technology shares dropped nearly 31 percent in five days after a critical Kotak Equities report flagged financial disclosure issues, prompting mutual funds to reduce their exposure to the stock.
Market sentiment turned sharply negative for Kaynes Technology after a critical report by Kotak Equities raised red flags over the company’s financial disclosures and related party transactions. The stock has fallen nearly 31 percent over the past five trading sessions as investors reacted to concerns around missing inter company transactions, goodwill treatment, and contingent liabilities.