Refile: BUZZ-India's Syrma SGS, Jyoti CNC rise after government approves investment proposals

Jyoti CNC Automation

18/08/2026 05:53

Corrects headline to say investment proposals, not approvals
** Shares of India's Syrma SGS Technology SYRM.NS and Jyoti CNC Automation JYCA.NS rise about 2% and 3.57%, respectively
** Stocks gain after the Indian government approved investment proposals under the fifth tranche of the Electronics Components Manufacturing Scheme (ECMS)
** Syrma SGS' 600 million-rupee ($6.27 million) coil manufacturing project and Jyoti CNC's 10.21-billion-rupee electronics manufacturing equipment proposal approved
** The approvals are expected to boost domestic electronics manufacturing, improve localization and reduce import dependence, brokerage ICICI Securities says
** YTD, SYRM up 103.93% and JYCA down 10.24%


($1 = 95.6675 Indian rupees)

 (Reporting by Surbhi Misra in Bengaluru)
 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))