Kaynes Technology shares slide 10% as Kotak Equities slashes target price by 33%. Should you buy, sell or hold?

Kaynes Technology shares tumbled nearly 10% on Wednesday, reversing Tuesday’s relief rally, after Kotak Institutional Equities slashed its target price by 33% and warned of unresolved concerns around intangible accounting, elevated working capital and negative cash flows. While some fund managers say valuations have improved after the stock’s 26% weekly slide, they caution that volatility will remain high until governance clarity, delivery data and operating momentum stabilise.