Shares of Kaynes Technology India Ltd fell nearly 3% to ₹6,078.50 on Monday, at 9:20AM despite the company reporting a 43% year-on-year rise in Q4 net profit to ₹116.2 crore. Revenue for the quarter surged 54.5% YoY to ₹984.5 crore, reflecting strong growth momentum.
However, the stock came under pressure after Morgan Stanley downgraded it to equal-weight with a revised target price of ₹6,155. The brokerage highlighted that Kaynes has outperformed the Sensex by 40% in the past three months, and is currently trading at 67x FY27E P/E, which it believes adequately factors in a 39% core EBITDA CAGR projected between FY25–30.
Morgan Stanley added that while the business fundamentals remain solid, future stock performance will now depend on execution strength and cash flow visibility.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult certified financial professionals before making any investment decisions.
