Kaynes Technology India Ltd shares plunged 9% on April 17, 2026

hares plunged 9% on April 17, 2026, after MD Ramesh Kunhikannan received SEBI show-cause notice for alleged disclosure lapses in smart meter accounting, intangible assets, and working capital amid a 40% crash from 52-week high. Kotak Equities slashed target 33% to ₹3,100 (Reduce), citing unresolved governance issues, though Nomura/Morgan Stanley remain overweight on export growth/margins. CRISIL reaffirmed 'A/Stable' rating for ₹770 Cr facilities; Q2 FY26 profit +102% YoY to ₹121 Cr, order book ₹8,099 Cr (+49%).