Shares of continued their decline for the third straight session on Friday after Kotak Institutional Equities highlighted multiple inconsistencies in the company's FY25 related-party disclosures. The stock slipped 8.41 per cent to a day's low of Rs 4,560.

Kotak identified mismatches across filings by Kaynes Technology, Kaynes Electronics Manufacturing and subsidiary Iskraemeco, prompting concerns over disclosure quality. Kaynes, in its statement, said: "Such external perspectives help deepen understanding, broaden dialogue, and play an important role in shaping informed investor decisions. We also believe it is our responsibility to provide clear, factual information so that the investor community can evaluate the Company with confidence." Advertisement

Below are Kotak's key observation

See Full Page