Motilal Oswal starts coverage of India's electronics manufacturers

Data Patterns (India)

16/10/2023 07:03

** India's domestic electronics industry is at an inflection
point, says domestic brokerage Motilal Oswal and initiates
coverage on five companies
    ** Motilal assigns "buy" to Kaynes Technologies  KAYN.NS ,
Avalon Technologies  AVAL.NS , Syrma SGS Technology  SYRM.NS ,
Cyient DLM  CYIT.NS  and "neutral" to Data Patterns  DATP.NS 
    ** Adds electronics market evolving rapidly with the onset
of electric vehicles (EVs), clearn energy, artificial
intelligence and Internet of Things
    ** India's EMS industry's growth to be led by easy
availability of low-cost labour and indigenization of raw
materials - Motilal Oswal
    ** Believes EMS to be a sunrise sector in India propelled by
government's PLI support to electronics ecosystem, China + 1
shift
    ** Shares of KAYN, AVAL, SYRM and CYIT, up between 0.2% and
1%; DATP down 2%

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))