The National Stock Exchange in Mumbai. (Photographer: Dhiraj Singh/Bloomberg) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Kaynes Technology India Ltd.’s shares extended losses, erasing more than $1 billion in market value this month, as concerns grow over its accounting practices.

The electronics component maker’s shares fell 13% on Monday, stretching losses so far in December to over 30%, following reports from JPMorgan Chase & Co. and Kotak Institutional Equities on concerns around deterioration in its cash flows. The company’s market capitalization has dropped to $2.8 billion.

Kaynes' accounting treatment of two of its acquisitions was “ambiguous” and there was a “variance in cash flow statement versus asset additions,” Kotak, analysts including Sandeep Gupta, wro

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