New Delhi, Dec. 11 -- Kaynes Technology India Ltd's stock has corrected 16% since Kotak Institutional Equities' 3 December report flagged potential governance issues and accounting ambiguities.
The Kotak report followed a promoter stake sale in June, after the end of the initial public offering (IPO) lock-in period, the chief executive's resignation in October, and share offloading by Motilal Oswal Financial Services in November, further exacerbating negative sentiment. The stock has now fallen nearly 50% from its October peak.
Is this an opportunity to buy the leading electronics manufacturer, or a falling knife that investors should steer clear of?
Kaynes acquired Iskraemeco and a 54% stake in Sensonic for a consideration of Rs.88 cr...
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