Shares of Kaynes Technologies Ltd resumed downward trend, falling over 10 per cent in Wednesday's trade, to take its year-to-date fall to about 50 per cent. The fresh fall came as Kotak cut its target price by 33 per cent. Even as the brokerage acknowledged the management responses to its earlier report, it felt certain aspects with respect to intangible accounting and elevated working capital still remain unclear. Advertisement

Kaynes Tech hosted a conference call to address key business-related concerns, during which management provided detailed clarifications on the accounting treatment of goodwill and intangible assets on account of Iskraemeco and sensonic acquisitions. It also talked about the progress on receivable management, and the steps taken to improve accuracy in related-p

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