The Indian stock market witnessed a significant decline in electronics manufacturing services (EMS) shares on Wednesday, with key stocks in the segment plummeting up to 10 percent. Kaynes Technology India was the biggest loser, falling 10.51 percent to Rs 3,876 on the National Stock Exchange (NSE).
The decline in Kaynes Technology shares was triggered by brokerages cutting their target prices due to a recent spell of selling pressure. Kotak Institutional Equities flagged inconsistencies in the company's related-party disclosures, leading to a 'Reduce' rating and a target price cut to Rs 4,150 from Rs 6,180. This implies further downside from the previous close.
However, Prabhudas Lilladher maintained its 'Buy' rating and a target price of Rs 5,624 per share, indicating an upside potential of nearly 30 percent from the stock's previous closing price.
The weakness in Kaynes Technology spilled over to other EMS stocks, including:
Kaynes Tech shares have fallen nearly 40 percent in the past month and are down around 49 percent in 2025 so far. The electronics manufacturing services (EMS) industry is a key sector in the Indian stock market, with companies like Kaynes Technology, Dixon Technologies, and PG Electroplast playing a significant role in the Indian economy.
Investors are advised to keep a close eye on the EMS sector and stock market trends to make informed investment decisions. The Indian stock market is known for its volatility, and market trends can change quickly, impacting stock prices and investment portfolios.
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