Nomura sees India's Samvardhana Motherson, Dixon Tech gain from US tariff exemptions

Samvardhana Motherson International

15/04/2025 06:32

** The U.S. exemption of key electronics like smartphones, computers and semiconductors from reciprocal tariffs could provide a boost to India's electronics sector, says Nomura

** Tariffs had ranged from 10% to 145% across countries

** U.S. removed smartphones and other electronics from its tariffs on China over the weekend but President Donald Trump warned levies on semiconductors would come soon

** Nomura sees gains for Samvardhana Motherson SAMD.NS due to its partner BIEL, which supplies Apple with displays

** Dixon Technologies DIXO.NS is also expected to benefit, having produced 11.5 million units for Motorola in FY25

** Shares of SAMD and DIXO jumped 8% and 2.5%, respectively

** Nomura notes prolonged tariff uncertainty could drive companies to diversify supply chains away from China

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))