Indian electronics manufacturers rise on government nod to projects worth about $626 million

SRF

28/10/2025 04:49

** Shares of electronics manufactures rise after India approves first batch of seven projects worth over 55 billion rupees ($625.8 million) to boost domestic manufacturing of electronics components

        ** Government approves projects for Kaynes Circuits India, SRF SRFL.NS, Syrma Strategic Electronics SYRM.NS, and Ascent Circuits

** Kaynes Circuits parent Kaynes Technology KAYN.NS up 4%, SYRM rises 6%

** Ascent Circuits parent Amber Enterprises AMBE.NS down 0.5%, SRFL flat

** ICICI Securities says investments in electronics components manufacturing industry to improve backward integration, increase value addition as well as enhance margin profile of these companies

** Adds projects have potential to earn EBITDA margin around mid to high teen percent levels

** ICICI Securities has "buy" ratings for KAYN, SYRM and AMBE

** YTD, KAYN down 7%, SRFL rises 35%, SYRMA up 34% and AMBE climbs 14%

($1 = 87.8950 Indian rupees)

 (Reporting by Komal Salecha)

 ((Komal@thomsonreuters.com;))