India's Syrma SGS Tech surges after Johari Digital Healthcare buy

Syrma SGS Technology

06/09/2023 07:33

** Shares of Syrma SGS Technology  SYRM.NS  climb as much as
9.40% to a record high of 588 rupees
    ** Rise comes after the electronic components and products
maker completes acquisition of 51% stake in electro-medical
devices maker Johari Digital Healthcare for 2.30 billion rupees
($27.69 million)
    ** Acquisition to enhance co's capabilities in
electro-medical devices segment, says SYRM
    ** Adds, acquisition will be earnings-accretive
    ** Trading volume is 1.97 mln shares as of 11:52 a.m. IST,
2.2x the 30-day avg - LSEG data
    ** Of ten analysts tracking SYRM, five maintain "strong
buy", five suggest "buy"; median TP is 590 rupees
    ** SYRM's shares up ~106% in 2023 so far, including the
day's gains


($1 = 83.0675 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))