Kaynes Tech shares rebound 4% in relief rally after 40% crash in 1 month.

Kaynes Technology India shares rebounded 4% after a 40% crash in a month. Oversold technicals and Nomura's Buy rating contributed to the rise. The brokerage cut its target price to Rs 5,455 from Rs 8,478, but still sees a 40% upside. Morgan Stanley retained its Equal-weight rating with a target price of Rs 6,155. The sharp correction was partly due to concerns about accounting and collection issues in the smart meters segment.