India's Syrma SGS Technology jumps after Morgan Stanley upgrade

Syrma SGS Technology

03/02/2026 07:27

** Shares of Syrma SGS Technology SYRM.NS rise 6.5% to 819.90 rupees

** Morgan Stanley upgrades rating to 'overweight' from 'equal-weight'; raises price target to 992 rupees from 712 rupees

** Morgan Stanley says we turn constructive due to relative resilience in revenue growth, improving margins, and healthy net working capital

** Adds, SYRM's exports rose to 25% of revenues vs 20% year ago, despite macro headwinds

** Tie-up with tech partner Shinhyup (Korean entity) could aid capability building and drive offtake as well - Morgan Stanley says

** Gains in stock also supported by India-U.S. trade deal

** Trading vols at 2.9 mln shares so far, over 2x the 30-day average

** SYRM rose ~24% in 2025

(Reporting by Vijay Malkar)

((VijayDattaram.Malkar@thomsonreuters.com;))