India's EMS companies rise on US-India trade deal

Syrma SGS Technology

03/02/2026 04:24

** Shares of Indian electronics manufacturing services (EMS) firms Dixon TechnologiesDIXO.NS, Syrma SGS SYRM.NS , Kaynes Technology India KAYN.NS rise between 4.6% to 6.5%

** U.S. President Donald Trump on Monday announced a trade deal with India, cutting tariffs on Indian goods to 18% and linking the move to India curbing Russian oil purchases

** ICICI Securities says lower U.S. tariffs could aid EMS exporters, including Dixon Technologies, Kaynes Technology and Syrma SGS, by improving export competitiveness and margins

** YTD, DIXO down 14.5%, KAYN down 13.5% and SYRM up about 5%

(Reporting by Surbhi Misra in Bengaluru)

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