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Kaynes Technology shares, now cheapest in JPMorgan's coverage, saw a 40% drop, prompting a buy rating.
Summary
Kaynes Technology shares are now the cheapest in JPMorgan's coverage after a 40% correction, presenting a potential buying opportunity. JPMorgan maintains an Overweight rating, indicating a positive outlook despite investor concerns related to financial disclosures.
Key Points
- Kaynes Technology shares experienced a 40% correction.
- JPMorgan maintains an Overweight rating on Kaynes Technology.
- The stock is now the cheapest in JPMorgan's coverage.
- Investor concerns stemmed from a Kotak Equities note regarding financial disclosures.
- The company anticipates improvements in working capital and receivables.
Full Article
Kaynes Technology shares are now the cheapest in JPMorgan's coverage. A recent 40% stock drop occurred without fundamental changes. JPMorgan maintains an Overweight rating, seeing significant upside. The company expects working capital and receivables to improve in the coming quarters. Investor concerns arose from a Kotak Equities note regarding financial disclosures.
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