Shares of Kaynes Technologies Ltd. are facing immense pressure in trade on Thursday. The stock opened in a lower circuit of 10% at market open at Rs 3,760 and has hit another bottom of 15% amid rampant selling pressure.
This comes on the back of Kaynes Tech's weak Q4FY26 earnings, where the EMS giant failed to meet all estimates. Kaynes also missed its revenue and cash flow guidance for the full year.
It must be noted that Kaynes Tech had initially guided for a revenue of Rs 4,500 crore in FY26, which was then lowered to Rs 4,100 crore. However, even the lowered guidance meant Kaynes Tech would have had to register a revenue of Rs 1,700 crore in the fourth quarter of FY26. But the EMS company has managed to register just over Rs 1,200 crore.
In light of Kaynes' Q4 earnings, Nuvama had downgraded the stock from a 'hold' to a 'buy', shedding the target price from Rs 5,500 to Rs 3,550, representing a 35% reduction. All these factors are playing a key role in locking Kaynes Tech into the lower circuit.
Here's what Nuvama and CLSA had to say on Kaynes Tech's Q4 results
Nuvama On Kaynes Tech
- Nuvama Downgrades To Hold TP Cut to 3550 vs 5500 earlier
- Posted largely weaker than expected Q4
- Missed our estimates by 11%/17% respectively on revenue/ PAT
- Cut FY27E/28E EPS by 22%/20% to reflect weak Q4
- Not ruling out modest cut/delay in its earlier stated guidance on revenue/PAT growth and cash flow parameters
CLSA on Kaynes
- Maintain Outperform with TP of Rs 4200
- Miss on all fronts
- Weak growth and balance sheet
- Expect Kaynes' stock to react negatively to its Q4 results
ALSO READ: Kaynes Tech Fails To Meet Lowered FY26 Guidance, Nuvama Downgrades Stock — Check Target Price
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
