Kaynes Tech stock crashes 19% after disappointing Q4 results and JPMorgan downgrade. The company reported a 6.5% year-on-year decline in quarterly revenue to ₹688.1 crore, falling short of market expectations. JPMorgan downgraded the stock from overweight to neutral and slashed its price target significantly from ₹6,000 to ₹4,000, citing concerns over slowing growth and execution visibility. The brokerage also cut earnings estimates by 12-17% over the next two years and reduced the valuation multiple for the core EMS business to 33 times from 45 times. Shares traded as low as ₹3,366.10, down from the previous close of ₹4,178.40. While the company still expects strong long-term growth, analysts view it as a show-me stock until actual performance aligns with guidance.
