According to JPMorgan, Kaynes is facing balance sheet pressure, weak cash flows and questions around revenue growth, particularly beyond the smart meter segment. The brokerage pointed out that "investor feedback indicates the company needs to show improvement in its cash flow" before confidence returns. It added that the stock has been sliding since the Q2 results, and "it is difficult to predict when the stock will make a bottom."
Kaynes Technology share drops over 8% as brokerages Kotak, JP Morgan raise red flags | Stock Market News
By Pranati Deva