India's Syrma SGS gains; JPMorgan raises PT on growth potential

Syrma SGS Technology

21/08/2025 05:49

** Syrma SGS Technology SYRM.NS rises 2% to 735 rupees

** JPMorgan maintains "overweight"; raises PT to 950 rupees from 880 rupees, implying 32% upside from last close

** Expects co to be third-fastest growing EMS firm in India

** Forecasts 30% revenue CAGR over FY25–28, led by industrial, automotive segments

** Bakes in 10 bln-rupee ($115 mln) QIP at 699 rupees/share, citing higher interest income, increased share count

** Raises FY26–28 EPS forecasts by 5%–9% on QIP proceeds, with additional upside if new acquisitions occur

** Stock rated "buy" on avg; median PT is 750 rupees, per data compiled by LSEG

** SYRM gains 24.4% YTD

($1 = 86.9437 Indian rupees)

 (Reporting by Rudra Pratap Singh in Bengaluru)

 ((rudrapratap.singh@thomsonreuters.com))