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TotalEnergies Renewables Indian Ocean, the subsidiary of global energy company TotalEnergies, has offloaded 1.7 percent equity stake in Adani Green Energy to 17 investors via block deals on December 10.

<a href="https://www.moneycontrol.com/india/stockpricequote/power-generationdistribution/adanigreenenergylimited/ADANI54145">Adani Green Energy</a> shares corrected nearly 1 percent to Rs 989.8 on the NSE, trading near the lower end of Bollinger Bands.

As per the block deals data, TotalEnergies Renewables sold 2.86 crore equity shares of the Adani group company for Rs 2,778.09 crore. The transaction price was Rs 970 per share.

French corporation TotalEnergies through its two subsidiaries TotalEnergies Renewables Indian Ocean and TotalEnergies Solar Wind Indian Ocean held 18.99 percent stake worth Rs 30,972 crore in the renewable energy solutions provider as of September 2025.

On other side, Quant Mutual Fund was the largest buyer in the block deal executed by TotalEnergies, picking up 1.23 crore shares (0.75 percent stake) for Rs 1,200 crore.

Other 16 investors that acquired remaining 1.62 crore equity shares in the Adani Group company for Rs 1,578.09 crore included BNP Paribas Financial Markets, Edelweiss Mutual Fund, Vanguard Emerging Markets Shares Index Fund, Amity Holdings, Cohesion MK Best Ideas, Visaria Family Trust, and Authum Investment.

Adani Green Energy announced partnership with the French major in 2020 by forming a 50-50 joint venture AGEL23 for the operation of 2.3 GWac/3.1 GWp of solar projects.

Further in January 2021, TotalEnergies acquired a 20 percent stake in Adani Green Energy, followed by formation of two more 50-50 joint ventures for 1.05GWac/1.53GWp and 1.15GWac/1.58GWp of renewable energy projects in 2023 and 2024 respectively. With this, their total renewable projects under joint venture increased to 4.5 GWac/6.2 GWp.

Meanwhile, <a href="https://www.moneycontrol.com/india/stockpricequote/cables/vidyawires/VWL">Vidya Wires</a> was also in action, rising 2.25 percent to Rs 53.17 on the listing day despite stake sale by Citigroup, and Abundantia Capital.

Citigroup Global Markets Mauritius sold 24.95 lakh shares for Rs 13.59 crore at Rs 54.47 per share, and Abundantia Capital offloaded 10.66 lakh shares for Rs 5.54 crore shares at Rs 52 per share.

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

Details of Associate

Receipt of Compensation

Third-Party Compensation

Employment History

Market-Making Activities

Use of Artificial Intelligence

TotalEnergies offloads 1.7% stake in Adani Green Energy for Rs 2,778 crore

TotalEnergies offloads 1.7% stake in Adani Green Energy for Rs 2,778 crore to 17 investors including Quant MF

TotalEnergies Renewables Indian Ocean, the subsidiary of global energy company TotalEnergies, has offloaded 1.7 percent equity stake in Adani Green Energy to 17 investors via block deals on December 10.

Adani Green Energy shares corrected nearly 1 percent to Rs 989.8 on the NSE, trading near the lower end of Bollinger Bands.

As per the block deals data, TotalEnergies Renewables sold 2.86 crore equity shares of the Adani group company for Rs 2,778.09 crore. The transaction price was Rs 970 per share.

French corporation TotalEnergies through its two subsidiaries TotalEnergies Renewables Indian Ocean and TotalEnergies Solar Wind Indian Ocean held 18.99 percent stake worth Rs 30,972 crore in the renewable energy solutions provider as of September 2025.

On other side, Quant Mutual Fund was the largest buyer in the block deal executed by TotalEnergies, picking up 1.23 crore shares (0.75 percent stake) for Rs 1,200 crore.

Other 16 investors that acquired remaining 1.62 crore equity shares in the Adani Group company for Rs 1,578.09 crore included BNP Paribas Financial Markets, Edelweiss Mutual Fund, Vanguard Emerging Markets Shares Index Fund, Amity Holdings, Cohesion MK Best Ideas, Visaria Family Trust, and Authum Investment.

Adani Green Energy announced partnership with the French major in 2020 by forming a 50-50 joint venture AGEL23 for the operation of 2.3 GWac/3.1 GWp of solar projects.

Further in January 2021, TotalEnergies acquired a 20 percent stake in Adani Green Energy, followed by formation of two more 50-50 joint ventures for 1.05GWac/1.53GWp and 1.15GWac/1.58GWp of renewable energy projects in 2023 and 2024 respectively. With this, their total renewable projects under joint venture increased to 4.5 GWac/6.2 GWp.

Meanwhile, Vidya Wires was also in action, rising 2.25 percent to Rs 53.17 on the listing day despite stake sale by Citigroup, and Abundantia Capital.

Citigroup Global Markets Mauritius sold 24.95 lakh shares for Rs 13.59 crore at Rs 54.47 per share, and Abundantia Capital offloaded 10.66 lakh shares for Rs 5.54 crore shares at Rs 52 per share.

Weakness in Kaynes Technology dragged several electronics manufacturing services (EMS) shares on Wednesday, with key stocks in the segment declining up to 10 percent.

Kaynes Technology India fell 10.51 percent to Rs 3,876 on the NSE after brokerages trimmed target prices following a recent spell of selling pressure. The counter has now declined in five of the past six sessions.

The slide gathered pace after Kotak Institutional Equities flagged inconsistencies in the company’s related-party disclosures. Kotak Securities reiterated its ‘Reduce’ rating and cut the target price to Rs 4,150 from Rs 6,180, implying further downside from the previous close.

Kaynes Tech shares have fallen nearly 40 percent in the past one month, and are down around 49 percent in 2025 so far.

Prabhudas Lilladher, however, remained bullish on the stock, maintaining its 'Buy' rating and a target price of Rs 5,624 per share. This implies an upside potential of nearly 30 percent from the stock’s previous closing price.

<strong><a href="https://www.moneycontrol.com/news/business/markets/kaynes-tech-shares-drop-10-as-brokerages-cut-target-prices-what-lies-ahead-13719606.html" target="_blank">Kaynes Tech shares drop 10% as brokerages cut target prices: What lies ahead?</a></strong>

The weakness spilled over to other EMS names. <a href="https://www.moneycontrol.com/india/stockpricequote/electricals/dixontechnologies/DT07">Dixon Technologies</a> ended 8.52 percent lower at Rs 12,366, its steepest single-day fall since January.

Amber Enterprises closed 1 percent down at Rs 6,610.

Shares of <a href="https://www.moneycontrol.com/india/stockpricequote/consumer-goods-electronic/pgelectroplast/PE06">PG Electroplast</a> also remained under pressure. The stock, which has been volatile since the company lowered its guidance after first-quarter results, declined 3.14 percent to Rs 539.

<em><strong>Disclaimer:</strong> The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Amber Enterprises, Dixon Tech among other EMS shares fall up to 9%; Kaynes Tech down 10%

Weakness in Kaynes Technology dragged several electronics manufacturing services (EMS) shares on Wednesday, with key stocks in the segment declining up to 10 percent.

Kaynes Technology India fell 10.51 percent to Rs 3,876 on the NSE after brokerages trimmed target prices following a recent spell of selling pressure. The counter has now declined in five of the past six sessions.

The slide gathered pace after Kotak Institutional Equities flagged inconsistencies in the company’s related-party disclosures. Kotak Securities reiterated its ‘Reduce’ rating and cut the target price to Rs 4,150 from Rs 6,180, implying further downside from the previous close.

Kaynes Tech shares have fallen nearly 40 percent in the past one month, and are down around 49 percent in 2025 so far.

Prabhudas Lilladher, however, remained bullish on the stock, maintaining its 'Buy' rating and a target price of Rs 5,624 per share. This implies an upside potential of nearly 30 percent from the stock’s previous closing price.

Kaynes Tech shares drop 10% as brokerages cut target prices: What lies ahead?

The weakness spilled over to other EMS names. Dixon Technologies ended 8.52 percent lower at Rs 12,366, its steepest single-day fall since January.

Amber Enterprises closed 1 percent down at Rs 6,610.

Shares of PG Electroplast also remained under pressure. The stock, which has been volatile since the company lowered its guidance after first-quarter results, declined 3.14 percent to Rs 539.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of capital market stocks dropped in trade sharply on December 10, as benchmark indices declined. The sharp fall in the share prices pushed the <a href="https://www.moneycontrol.com/indian-indices/nifty-capital-market-140.html">Nifty Capital Markets</a> index down more than 2 percent.

The thematic index has now extended losses for the third consecutive session, closing at 4,482.10 on Wednesday

Indian stock markets ended the session in the red on Wednesday, as caution prevailed ahead of the US Federal Reserve FOMC meeting outcome and likely rate cut by the American central bank.

<a href="https://www.moneycontrol.com/indian-indices/SENSEX-4.html">Sensex</a> fell over 275 points (0.32 percent) to close at 84,391.27, while <a href="https://www.moneycontrol.com/indian-indices/nifty-50-9.html">Nifty 50</a> fell nearly 82 points (0.32 percent) to end the session at 25,758. This marks the first time in around one month when NSE's benchmark index closed below the 25,800-mark.
<h3><strong>Capital market stocks plunge:</strong></h3>
Multi Commodity Exchange of India (<a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/multicommodityexchangeindia/MCE">MCX</a>) shares were the top loser on the index, falling more than 5 percent to close at Rs 9,805 apiece. The shares of Bombay Stock Exchange (<a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/bselimited/B08">BSE</a>) followed, dropping over 4 percent.

Central Depository Services (<a href="https://www.moneycontrol.com/india/stockpricequote/finance-investment/centraldepositoryservices/CDS">CDSL</a>) shares fell nearly 3 percent, while Motilal Oswal Financial Services, <a href="https://www.moneycontrol.com/india/stockpricequote/finance-stock-broking/angelone/ABL03">Angel One</a> and Computer Age Management Services (CAMS) shares fell over 2 percent each. Indian Energy Exchange (<a href="https://www.moneycontrol.com/india/stockpricequote/diversified/indianenergyexchange/IEE">IEX</a>) and 360 ONE WAM shares fell more than 1.5 percent each, while Kfin Technologies and UTI AMC shares fell over 1 percent each.

Nuvama shares were down nearly 1 percent. Anand Rathi Wealth and HDFC AMC shares bucked the trend to close in the green.
<h3><strong>What lies ahead?</strong></h3>
"Global equity markets experienced continued volatility due to rising Japanese bond yields and indications of BOJ monetary tightening, which are fostering risk-off sentiments in emerging markets. Focus now shifts to the upcoming U.S. Fed meeting, where a 25-bps rate cut is widely expected. However, internal divisions and mixed economic indicators may temper expectations for further rate cuts in 2026," said from Vinod Nair, Head of Research, Geojit Investments Limited.

"Indian markets mirrored global caution, weighed down by persistent FII outflows, INR weakness, and uncertainty surrounding U.S.–India trade negotiations despite ongoing discussions. In the near term, market direction will be influenced by central bank cues and clarity on trade developments," he added.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-negative-start-us-asian-markets-mixed-liveblog-13718497.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

BSE, MCX, Angel One, other capital market stocks fall up to 5% as Nifty closes below 25,800: What lies ahead?

The shares of capital market stocks dropped in trade sharply on December 10, as benchmark indices declined. The sharp fall in the share prices pushed the Nifty Capital Markets index down more than 2 percent.

The thematic index has now extended losses for the third consecutive session, closing at 4,482.10 on Wednesday

Indian stock markets ended the session in the red on Wednesday, as caution prevailed ahead of the US Federal Reserve FOMC meeting outcome and likely rate cut by the American central bank.

Sensex fell over 275 points (0.32 percent) to close at 84,391.27, while Nifty 50 fell nearly 82 points (0.32 percent) to end the session at 25,758. This marks the first time in around one month when NSE's benchmark index closed below the 25,800-mark.
Capital market stocks plunge:
Multi Commodity Exchange of India (MCX) shares were the top loser on the index, falling more than 5 percent to close at Rs 9,805 apiece. The shares of Bombay Stock Exchange (BSE) followed, dropping over 4 percent.

Central Depository Services (CDSL) shares fell nearly 3 percent, while Motilal Oswal Financial Services, Angel One and Computer Age Management Services (CAMS) shares fell over 2 percent each. Indian Energy Exchange (IEX) and 360 ONE WAM shares fell more than 1.5 percent each, while Kfin Technologies and UTI AMC shares fell over 1 percent each.

Nuvama shares were down nearly 1 percent. Anand Rathi Wealth and HDFC AMC shares bucked the trend to close in the green.
What lies ahead?
&quot;Global equity markets experienced continued volatility due to rising Japanese bond yields and indications of BOJ monetary tightening, which are fostering risk-off sentiments in emerging markets. Focus now shifts to the upcoming U.S. Fed meeting, where a 25-bps rate cut is widely expected. However, internal divisions and mixed economic indicators may temper expectations for further rate cuts in 2026,&quot; said from Vinod Nair, Head of Research, Geojit Investments Limited.

&quot;Indian markets mirrored global caution, weighed down by persistent FII outflows, INR weakness, and uncertainty surrounding U.S.–India trade negotiations despite ongoing discussions. In the near term, market direction will be influenced by central bank cues and clarity on trade developments,&quot; he added.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of Indian IT companies dropped in trade on December 10, extending losses for the  third consecutive session. This comes as investors remain cautious ahead of the Federal Reserve's FOMC meeting outcome later today.

The sharp drop in share prices pushed the <a href="https://www.moneycontrol.com/indian-indices/nifty-it-19.html">Nifty IT index</a> down around 1 percent to 37,808, as seen at 2.30 pm.

The US Federal Reserve is holding its FOMC meeting from December 9 to December 10. Analysts expect the Fed to make a "hawkish cut", where the language of the statement, median forecasts and Chair Jerome Powell's press conference point to a higher bar for further rate reduction.

The Federal Open Market Committee, which sets monetary policy, is expected to announce on Wednesday that it will lower the benchmark rate by 25 basis points. The outcome of Fed's meeting will likely impact investor sentiment around IT stocks as these Indian companies derive a significant portion of their revenue from the US market.
<h3><strong>Here's what analysts say:</strong></h3>
"Sentiment weakened primarily due to rising caution ahead of the upcoming Fed meeting, with investors worried about the possibility of a tighter global monetary stance and its spillover impact on emerging markets," said Ajit Mishra – SVP, Research, Religare Broking.

The​‍​‌‍​‍‌​‍​‌‍​‍‌ Indian IT industry has suffered a blow lately after international customers reduced their spending on non-essential activities, deal pipelines have become very slim and foreign investors, being apprehensive about the macro risks, are still selling, said Siddharth Maurya, Founder &amp; Managing Director, Vibhavangal Anukulakara.

"Automation and AI are changing the IT sector, but the doubt will probably still be there until clients confirm new outsourcing deals. However, market prices have already factored in most of the negative scenario and dividend returns are quite appealing. In fact, this may turn into a value investment situation for long-term, contrarian investors who are willing to tolerate the volatility, over the next 12-18 ​‍​‌‍​‍‌​‍​‌‍​‍‌months," he said.
<h3><strong>Top IT losers today:</strong></h3>
The IT index is among the top sectoral loser on the stock markets today. <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/persistentsystems/PS15">Persistent Systems</a> shares fell more than 4 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/coforge/NII02">Coforge</a> shares dropped nearly 3 percent.

Mphasis, <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/infosys/IT">Infosys</a>, Tata Consultancy Services (<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/tataconsultancyservices/TCS">TCS</a>) and Tech Mahindra (<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/techmahindra/TM4">TechM</a>) shares fell nearly 1 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/ltimindtree/LI12">LTIMindtree</a> shares were trading in the red with marginal losses. Wipro and HCLTech shares bucked the trend to trade in the green.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-negative-start-us-asian-markets-mixed-liveblog-13718497.html">IPO news</a> here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

IT stocks extend losses to third day, fall up to 4% ahead of Fed meet outcome: What lies ahead?

The shares of Indian IT companies dropped in trade on December 10, extending losses for the  third consecutive session. This comes as investors remain cautious ahead of the Federal Reserve's FOMC meeting outcome later today.

The sharp drop in share prices pushed the Nifty IT index down around 1 percent to 37,808, as seen at 2.30 pm.

The US Federal Reserve is holding its FOMC meeting from December 9 to December 10. Analysts expect the Fed to make a &quot;hawkish cut&quot;, where the language of the statement, median forecasts and Chair Jerome Powell's press conference point to a higher bar for further rate reduction.

The Federal Open Market Committee, which sets monetary policy, is expected to announce on Wednesday that it will lower the benchmark rate by 25 basis points. The outcome of Fed's meeting will likely impact investor sentiment around IT stocks as these Indian companies derive a significant portion of their revenue from the US market.
Here's what analysts say:
&quot;Sentiment weakened primarily due to rising caution ahead of the upcoming Fed meeting, with investors worried about the possibility of a tighter global monetary stance and its spillover impact on emerging markets,&quot; said Ajit Mishra – SVP, Research, Religare Broking.

The​‍​‌‍​‍‌​‍​‌‍​‍‌ Indian IT industry has suffered a blow lately after international customers reduced their spending on non-essential activities, deal pipelines have become very slim and foreign investors, being apprehensive about the macro risks, are still selling, said Siddharth Maurya, Founder &amp;amp; Managing Director, Vibhavangal Anukulakara.

&quot;Automation and AI are changing the IT sector, but the doubt will probably still be there until clients confirm new outsourcing deals. However, market prices have already factored in most of the negative scenario and dividend returns are quite appealing. In fact, this may turn into a value investment situation for long-term, contrarian investors who are willing to tolerate the volatility, over the next 12-18 ​‍​‌‍​‍‌​‍​‌‍​‍‌months,&quot; he said.
Top IT losers today:
The IT index is among the top sectoral loser on the stock markets today. Persistent Systems shares fell more than 4 percent, while Coforge shares dropped nearly 3 percent.

Mphasis, Infosys, Tata Consultancy Services (TCS) and Tech Mahindra (TechM) shares fell nearly 1 percent, while LTIMindtree shares were trading in the red with marginal losses. Wipro and HCLTech shares bucked the trend to trade in the green.

Follow all IPO news here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/electronics-components/kaynestechnologyindia/KTI">Kaynes Technology India</a> dropped more than 10 percent on December 10 as brokerages cut target prices after the recent selloff. The stock has now fallen in five out of six consecutive sessions.

Kaynes Tech shares dropped to Rs 3,881 apiece on Wednesday. The sharp selloff began after Kotak Institutional Equities raised concerns over inconsistencies in the EMS player's related-party disclosures.
<h3><strong>Brokerages on Kaynes Tech:</strong></h3>
Nomura maintained its 'Buy' rating on Kaynes Tech, but reduced its target price for the stock to Rs 5,454 from Rs 8,478. The latest target price implies an upside potential of nearly 26 percent from the stock's previous closing price.

Kotak Securities meanwhile maintained its 'Reduce' rating on the stock, and reduced its target price to Rs 4,150 from Rs 6,180. The latest target price implies a downside potential more than 4 percent from the stock's previous closing price.

<a href="https://www.moneycontrol.com/news/business/stocks/buy-kaynes-technology-india-target-of-rs-5624-prabhudas-lilladher-13717536.html">Prabhudas Lilladher</a> however remained bullish on the stock, maintaining its 'Buy' rating and a target price of Rs 5,624 per share. This implies an upside potential of nearly 30 percent from the stock’s previous closing price.

It however lowered its FY26/FY27/FY28E earnings estimate by 1.8 percent/11.5 percent/7.8 percent.

Macquarie has maintained its <a href="https://www.moneycontrol.com/news/business/markets/kaynes-tech-shares-jump-10-snap-4-day-losing-streak-macquarie-sees-102-upside-13717322.html">'Outperform' rating on Kaynes Tech </a>shares, with a price target of Rs 7,700 apiece. This implies an upside potential of nearly 78 percent from the stock's previous closing price of Rs 4,331 per share.

The international brokerage said that Kaynes Tech accepted disclosure shortfall in its analyst call on Monday, CNBC-TV18 reported. "The management clarification sounded reasonable, but doubts have been raised on so many aspects that water has been muddied," the brokerage wrote.

"Kaynes has set an aggressive path for higher value addition, international expansion, and backward integration that should establish its position as a leading ESDM company in India," it added.

Kaynes Tech shares have emerged as the cheapest stock in JPMorgan's coverage after the sharp selloff, Economic Times reported. The international brokerage in its note reiterated its 'Overweight' stance on the stock.

This comes days after the JPMorgan advised investors to avoid "bottom fishing" in the shares of Kaynes Technologies, as it does not see a clear, strong catalyst for the stock till it reports its third quarter results.
<h3><strong>Kotak's allegations, Kaynes' clarification:</strong></h3>
In its note released on December 3, Kotak Institutional Equities said that it has identified multiple mismatches between the disclosures made by Kaynes Technology, Kaynes Electronics Manufacturing, and its subsidiary Iskraemeco for the financial year 2025.

According to the brokerage, Iskraemeco's filings show purchases of Rs 180 crore from Kaynes Electronics Manufacturing, but this transaction is not reflected in Kaynes Electronics Manufacturing’s own related-party disclosures. Iskraemeco also reported year-end payables of Rs 320 crore to Kaynes Technology and Rs 180 crore to Kaynes Electronics Manufacturing, along with receivables of Rs 190 crore from Kaynes Technology. These balances, Kotak noted, do not appear in the corresponding disclosures of Kaynes Technology or Kaynes Electronics Manufacturing.

Kaynes Technology issued a clarification on December 5, stating that these were inadvertently not disclosed in the standalone financial statements. "This has been rectified and has been noted for future compliance. This transaction was part of the overall financial statement in both the entities," the firm said.

Kotak further said that almost all of Iskraemeco's current receivables were shown as due from its parent company, with Rs 45.8 crore outstanding for more than a year. The brokerage said the inconsistencies warrant closer scrutiny, as they raise questions on inter-company transactions and year-end balances within the group.
<h3><strong>Kaynes Tech admits to accounting lapses:</strong></h3>
Kaynes Technology on Monday admitted that a related-party transaction with its smart-metering subsidiary Iskraemeco had not been disclosed in its standalone FY24 financials, though it was correctly reported in the consolidated results. "They accepted it as a mistake. The auditor also missed it. They said they will rectify the disclosure,” said Praveen Sahay, analyst at PL Capital.
<h3><strong>Kaynes Tech share price history:</strong></h3>
Kaynes Tech shares have fallen nearly 40 percent in the past one month, and are down around 49 percent in 2025 so far. Its P/E ratio stands at over 91.

The company currently has a market capitalization of nearly Rs 29,130 crore.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-negative-start-us-asian-markets-mixed-liveblog-13718497.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Kaynes Tech shares drop 10% as brokerages cut target prices: What lies ahead?

The shares of Kaynes Technology India dropped more than 10 percent on December 10 as brokerages cut target prices after the recent selloff. The stock has now fallen in five out of six consecutive sessions.

Kaynes Tech shares dropped to Rs 3,881 apiece on Wednesday. The sharp selloff began after Kotak Institutional Equities raised concerns over inconsistencies in the EMS player's related-party disclosures.
Brokerages on Kaynes Tech:
Nomura maintained its 'Buy' rating on Kaynes Tech, but reduced its target price for the stock to Rs 5,454 from Rs 8,478. The latest target price implies an upside potential of nearly 26 percent from the stock's previous closing price.

Kotak Securities meanwhile maintained its 'Reduce' rating on the stock, and reduced its target price to Rs 4,150 from Rs 6,180. The latest target price implies a downside potential more than 4 percent from the stock's previous closing price.

Prabhudas Lilladher however remained bullish on the stock, maintaining its 'Buy' rating and a target price of Rs 5,624 per share. This implies an upside potential of nearly 30 percent from the stock’s previous closing price.

It however lowered its FY26/FY27/FY28E earnings estimate by 1.8 percent/11.5 percent/7.8 percent.

Macquarie has maintained its 'Outperform' rating on Kaynes Tech shares, with a price target of Rs 7,700 apiece. This implies an upside potential of nearly 78 percent from the stock's previous closing price of Rs 4,331 per share.

The international brokerage said that Kaynes Tech accepted disclosure shortfall in its analyst call on Monday, CNBC-TV18 reported. &quot;The management clarification sounded reasonable, but doubts have been raised on so many aspects that water has been muddied,&quot; the brokerage wrote.

&quot;Kaynes has set an aggressive path for higher value addition, international expansion, and backward integration that should establish its position as a leading ESDM company in India,&quot; it added.

Kaynes Tech shares have emerged as the cheapest stock in JPMorgan's coverage after the sharp selloff, Economic Times reported. The international brokerage in its note reiterated its 'Overweight' stance on the stock.

This comes days after the JPMorgan advised investors to avoid &quot;bottom fishing&quot; in the shares of Kaynes Technologies, as it does not see a clear, strong catalyst for the stock till it reports its third quarter results.
Kotak's allegations, Kaynes' clarification:
In its note released on December 3, Kotak Institutional Equities said that it has identified multiple mismatches between the disclosures made by Kaynes Technology, Kaynes Electronics Manufacturing, and its subsidiary Iskraemeco for the financial year 2025.

According to the brokerage, Iskraemeco's filings show purchases of Rs 180 crore from Kaynes Electronics Manufacturing, but this transaction is not reflected in Kaynes Electronics Manufacturing’s own related-party disclosures. Iskraemeco also reported year-end payables of Rs 320 crore to Kaynes Technology and Rs 180 crore to Kaynes Electronics Manufacturing, along with receivables of Rs 190 crore from Kaynes Technology. These balances, Kotak noted, do not appear in the corresponding disclosures of Kaynes Technology or Kaynes Electronics Manufacturing.

Kaynes Technology issued a clarification on December 5, stating that these were inadvertently not disclosed in the standalone financial statements. &quot;This has been rectified and has been noted for future compliance. This transaction was part of the overall financial statement in both the entities,&quot; the firm said.

Kotak further said that almost all of Iskraemeco's current receivables were shown as due from its parent company, with Rs 45.8 crore outstanding for more than a year. The brokerage said the inconsistencies warrant closer scrutiny, as they raise questions on inter-company transactions and year-end balances within the group.
Kaynes Tech admits to accounting lapses:
Kaynes Technology on Monday admitted that a related-party transaction with its smart-metering subsidiary Iskraemeco had not been disclosed in its standalone FY24 financials, though it was correctly reported in the consolidated results. &quot;They accepted it as a mistake. The auditor also missed it. They said they will rectify the disclosure,” said Praveen Sahay, analyst at PL Capital.
Kaynes Tech share price history:
Kaynes Tech shares have fallen nearly 40 percent in the past one month, and are down around 49 percent in 2025 so far. Its P/E ratio stands at over 91.

The company currently has a market capitalization of nearly Rs 29,130 crore.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

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TotalEnergies offloads 1.7% stake in Adani Green Energy for Rs 2,778 crore

Amber Enterprises, Dixon Tech among other EMS shares fall up to 9%; Kaynes Tech down 10%

BSE, MCX, Angel One, other capital market stocks fall up to 5% as Nifty closes below 25,800: What lies ahead?

IT stocks extend losses to third day, fall up to 4% ahead of Fed meet outcome: What lies ahead?

Kaynes Tech shares drop 10% as brokerages cut target prices: What lies ahead?

Auto Ancillaries - Seating covers & parts Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Auto Ancillaries - Seating covers & parts industry stocks.

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TotalEnergies offloads 1.7% stake in Adani Green Energy for Rs 2,778 crore

Amber Enterprises, Dixon Tech among other EMS shares fall up to 9%; Kaynes Tech down 10%

BSE, MCX, Angel One, other capital market stocks fall up to 5% as Nifty closes below 25,800: What lies ahead?

IT stocks extend losses to third day, fall up to 4% ahead of Fed meet outcome: What lies ahead?

Kaynes Tech shares drop 10% as brokerages cut target prices: What lies ahead?

Auto Ancillaries - Seating covers & parts Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Auto Ancillaries - Seating covers & parts industry stocks.