SYRMA

** Syrma SGS Technology SYRM.NS jumps 4.2% to a record high of 824 rupees, set for sixth straight session of gains

** Andhra Pradesh government approves a 8.56 bln rupees ($97.8 mln) incentive package for co for a mega printed circuit board plant, news website Moneycontrol reports citing sources

** Report adds, project to be commissioned by October 2026 and is expected to add 62 bln rupees to top line of Syrma in FY 2027

** Syrma did not immediately respond to a request for comment

** Avg rating of 23 analysts is "buy", median PT is 750 rupees-LSEG data

** YTD stock up ~34%

($1 = 87.5060 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

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** 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)

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Aug 12 (Reuters) - Syrma SGS Technology Ltd SYRM.NS:

• SYRMA SGS TECHNOLOGY - APPROVED QIP ISSUE PRICE OF 699 RUPEESPER SHARE

Source text: ID:nNSE8XkVHk

Further company coverage: SYRM.NS

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** J.P. Morgan expects India’s electronic manufacturing services (EMS) sector to grow rapidly, supported by the Make in India push, rising electronics demand, and global supply chain shifts under the China+1 strategy

** Initiates coverage of Syrma SSG Technology SYRM.NS, Dixon Technologies DIXO.NS and Kaynes Technology KAYN.NS at "overweight"

** Brokerage expects EMS to continue its strong growth and forecasts a 32% revenue CAGR over FY25-30E, as it takes an increasing share of domestic electronics production

** Adds, outsourced semiconductor assembly and testing and printed circuit board manufacturing as emerging opportunities, with exports poised to be the next frontier

** Shares of SYRM, DIXO and KAYN rise between 2% and 3.1%

(Reporting by Rudra Pratap Singh in Bengaluru)

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** Syrma SGS Technology SYRM.NS falls 6.5% to 526.9 rupees, and is the biggest pct loser among Nifty 500 .NIFTY500 stocks

** The electronics design co's fourth-quarter revenue falls 18% y/y on weakness in consumer and healthcare segments

** More than 3.2 million shares change hands on the day, ~2x six-month average daily volume

** Analysts, on average, rate the stock as "buy"; median PT 555 rupees, as per data compiled by LSEG

** YTD, SYRM stock down 11%

(Reporting by Vivek Kumar M)

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** Shares of Syrma SGS Technology SYRM.NS rise 2% to 426.7 rupees

** Investec upgrades rating on co to "hold" from "sell"; maintains PT of 460 rupees

** The brokerage says rating upgrade post sharp share price correction, sees reasonable valuation

** Adds, co valued 25x its projected price-to-earnings ratio for FY27

** 19 analysts covering the stock on avg have a "buy" rating; median PT is 580 rupees - data compiled by LSEG

** Stock down 29% YTD

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of Syrma SGS Technology SYRM.NS jump by an exchange-allowed maximum of 20% to touch 505.10 rupees

** Electronics design co's Q3 consol net profit jumps over three-fold to 487.9 mln rupees ($5.6 mln), driven by strength in auto and industrial segments

** Stock on track to log busiest trading session in three months, volumes at 7.1x the 30-day avg

** Still, SYRM down ~14% for the month, on track to log biggest monthly fall since listing in August 2022

** Nifty 500 .NIFTY500, which SYRM is a constituent of, is down ~5% so far in Jan

($1 = 86.5725 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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Jan 10 (Reuters) - Syrma SGS Technology Ltd SYRM.NS:

• MSI SELECTS SYRMA SGS TO MANUFACTURE 'MAKE IN INDIA' LAPTOPS

Source text: ID:nBSE3Pckqq

Further company coverage: SYRM.NS

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** Shares of Syrma SGS Technology SYRM.NS gain 12.5% to 486 rupees, eye best day since late May

** Stock closed 13.9% higher in previous session on posting 30% Y/Y rise in Q2 consol profit after tax

** BOB Capital Markets hikes TP on stock to 480 rupees from 450 rupees, 11% premium to last close; keeps "hold"

** Says co's auto and healthcare business, which led growth in Q2, will drive future growth

** Motilal Oswal expects recovery in margins to continue, fuelled by higher exports, design and manufacturing businesses

** Co faces margin challenges as consumer segment, which comprises 35%-38% of topline, operates with lower margins, according to BOB Capital; management aims to lower this segment's share

** Analysts' rating on stock "buy", median PT 510 rupees - LSEG data

** Stock down ~27% YTD

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

Oct 17 (Reuters) - Syrma SGS Technology Ltd SYRM.NS:

• TO INAUGURATE NEW MANUFACTURING FACILITY AT PUNE, MAHARASHTRA

Source text for Eikon: ID:nBSE9Gx1jK

Further company coverage: SYRM.NS

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** Shares of electronic systems maker Syrma SGS Technology SYRM.NS fall as much as 9.3% to 423 rupees, hits lowest level since June 5

** SYRM on Monday reported a 32.3% fall in consolidated net profit to 193 million rupees

** Missed analyst estimates of 289 million rupees, per LSEG data

** Gross margins contracted by 7 percentage points (ppt) to 15% year-on-year, likely on mix change and intense competition, Investec analysts noted

** Despite operating leverage benefits, EBITDA margins stood at 3.8%, contracting by 2.3 ppt year-on-year - Investec

** Stock last down 1.6%, taking YTD losses to 31.4%

(Reporting by Anisha Ajith in Bengaluru)

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May 10 (Reuters) - Syrma SGS Technology Ltd SYRM.NS:

• FINAL DIVIDEND OF 1.5 RUPEES PER SHARE

• IN PRINCIPAL APPROVAL FOR RAISING OF FUNDS WORTH UP TO 10 BILLION RUPEES

Source text for Eikon: ID:nBSE6Y3gfR

Further company coverage: SYRM.NS

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** Shares of electronic products maker Syrma SGS Technology SYRM.NS up 1.8% at 483 rupees, trimming gains after jumping 4.1% earlier in the day

** Stock on track to snap two consecutive sessions of losses, if trend holds

** Jefferies initiates coverage with "buy," PT of 640 rupees per share

** Brokerage says the co's business is well-diversified with clients across industrial, consumer electronics, auto, medical, rail and others

** SYRM's target P/E for March 2026 EPS is 38x, aligning with historical trading averages - Jefferies

** Avg rating of 12 analysts close to equivalent of "buy," median PT is 604 rupees - LSEG data

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

** Shares of Syrma SGS Technology SYRM.NS up 3% at 535 rupees, trimming gains after jumping 9.65% to 569.95 rupees in early trade

** Rise after CLSA initiates coverage of stock, citing strong runway for growth

** Diversified electronics manufacturing services company could see 36% revenue CAGR between fiscal 2023 and 2026, forecasts CLSA

** SYRM's plans to enter new segments like lighting, aerospace and healthcare, inorganic expansion plans, rise in addressable market and strong demand environment augur well for company - brokerage

** CLSA's target price of 645 rupees implies a 24% upside potential for shares in next 12 months

** Mean recommendation of 11 analysts, excluding CLSA, is equivalent to "buy"; median target price is 602.50 rupees - LSEG data

** Including day's gains, stock down 20% in 2024 so far after rising 139% previous year - LSEG data

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** Shares of Syrma SGS Technology SYRM.NS drop 8.4% to 522.95 rupees apiece after profit drop

** Electronics product design and manufacturing firm's stock set for highest percentage drop in three months, when it reported weak Q2 results

** Dec qtr net profit halves Y/Y to 155.20 million rupees, hurt by 52% surge in raw material costs

** But, rev from ops jumps 38% Y/Y

** Stock has fallen over 20% already this year, compared to an over two-fold surge in 2023

** Mean recommendation of 11 analysts tracking SYRM is "buy"; median PT at 668.50 rupees, 28% above the current price - LSEG data

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Nov 24 (Reuters) - Syrma SGS Technology Ltd SYRM.NS:

• INCORPORATED UNIT SYRMA SEMICON

Source text for Eikon: ID:nBSEk036f

Further company coverage: SYRM.NS

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** India's domestic electronics industry is at an inflection point, says domestic brokerage Motilal Oswal and initiates coverage on five companies

** Motilal assigns "buy" to Kaynes Technologies KAYN.NS, Avalon Technologies AVAL.NS, Syrma SGS Technology SYRM.NS, Cyient DLM CYIT.NS and "neutral" to Data Patterns DATP.NS

** Adds electronics market evolving rapidly with the onset of electric vehicles (EVs), clearn energy, artificial intelligence and Internet of Things

** India's EMS industry's growth to be led by easy availability of low-cost labour and indigenization of raw materials - Motilal Oswal

** Believes EMS to be a sunrise sector in India propelled by government's PLI support to electronics ecosystem, China + 1 shift

** Shares of KAYN, AVAL, SYRM and CYIT, up between 0.2% and 1%; DATP down 2%

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463))

** 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)

(([email protected]; +91 9769003463))

** Shares of Syrma SGS Technology SYRM.NS rise as much as 4.74% to a record 517.45 rupees

** Co appoints Satendra Singh as CEO, with immediate effect

** Relative strength index rises above 70 on Friday, suggesting stock may be overbought - Refinitiv data

** Of the eight analysts tracking SYRM, four have "strong buy," four "buy;" median TP is 570 rupees

** SYRM up ~83% this year

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463))

Aug 24 (Reuters) - Syrma SGS Technology Ltd SYRM.NS:

• NAMES SATENDRA SINGH AS CEO

Source text for Eikon: ID:nBSE8DqxB4

Further company coverage: SYRM.NS

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** Shares of Zen Technologies ZETE.NS rise as much as 9.63% to 453.20 rupees, their sharpest intraday pct gain since May 17

** The maker of training simulators for armed forces secured order worth 2.02 billion rupees ($24.46 million) from Ministry of Defence, Government of India

** ZETE also foresees additional orders within the next quarter

** Over 1.6 mln shares traded as of 9:37 a.m. IST, 1.3x the 30-day avg - Refinitiv data

** Stock has surged more than 140% in 2023

($1 = 82.5750 Indian rupees)

(Reporting by Nishit Navin in Bengaluru)

(([email protected]; +91 9769003463;))

** Shares of Hindustan Aeronautics HIAE.NS rise as much as 3.28% to a record high of 3,525 rupees

** Stock of the state-owned defence and aerospace manufacturer on course to gain for fourth session in a row, up 13.25% since June 1

** Reuters reported on June 1 that Biden administration is expected to sign off on a deal to allow General Electric Co GE.N to produce jet engines powering Indian military aircraft, according to three people briefed on the decision nL1N37S3MH

** GE has offered some transfer of technology to HIAE, which will make the engines as licensed manufacturer, according to one of the people familiar with the development

** HIAE had earlier planned to use GE's 414 engine on second generation of light-combat aircraft

** The relative strength index of HIAE is 80, suggesting it may be overbought - Refinitiv data

** Of the eight analysts tracking HIAE, seven maintain "buy" and one suggests "sell"; median TP is 3,402.50 rupees

($1 = 82.5525 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Updates with analysts' comments in paragraphs 8 and 9

** The National Stock Exchange (NSE) has changed the Bank Nifty .NSEBANK weekly and monthly derivatives expiry to Friday from Thursday

** The changes will be effective from July 7, 2023

** All existing contracts with Thursday expiry will be revised to Friday on July 6, post market hours: NSE

** If Friday is a trading holiday, then the expiry day is the previous trading day

** For monthly and quarterly derivatives contracts, the expiry day will be the last Friday of the month and the quarter, respectively

** Revision comes after the NSE took cognisance of the feedback from market participants

** S&P BSE Sensex and S&P BSE Bankex derivatives contracts, which were reintroduced on May 15, have expiry on Fridays

** "This move is significant as Nifty and Bank Nifty constitute the lion's share of derivative volumes," says Anand James, chief market strategist at Geojit Financial Services

** "The decision could counter the shift in volume to .BSESN and Bankex whose derivatives' expiry was on Friday," says Amit Kumar Gupta, founder and chief investment officer at Fintrekk Capital

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** Shares of India's largest state-owned lender State Bank of India Ltd SBI.NS fall as much as 2.33% to 579 rupees

** SBI is among the top losers in high-weightage financials .NIFTYFIN, which is down 0.8%

** SBI fixed May 31 as the record date for dividend of 11.30 rupees per share for FY2023

** The date of payment of dividend is June 14

** Of the 42 analysts tracking SBI, 41 maintain "buy" and one suggests "hold"; median TP is 715 rupees - Refinitiv data

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** Shares of Macrotech Developers Ltd MACE.NS rise as much as 2.03% to a near-three-month high of 1,081.80 rupees

** Stock among top gainers in realty index .NIFTYREAL which is down 0.01%

** Rise after 3.44 mln shares change hands in nine blocks, at a price range of 1,030 rupees to 1,032.35 rupees per share

** Stock is most active in three months, with a trading volume if 4.57 mln shares as of 11:54 a.m. IST, more than six times the 30-day avg - Refinitiv data

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** India's benchmark Nifty 50 index .NSEI rises as much as 0.77% to 18,641.20 points, its highest in over five months

** Index about 200 points from its record high of 18,887.60

** But NSEI's relative strength index (RSI) jumps above 71 on Mon, suggesting it may be overbought

** Moving average convergence divergence (MACD) line reverses above signal line on Mon, suggesting bullish bias

** NSEI also risen above the upper Bollinger band on Mon, suggesting overbought conditions

** NSEI opened at a gap up of 120-pts on Mon, biggest gap-up opening since March 31, on US debt ceiling deal .N

** "Nifty looks set for a new high after the consolidation breakout, thanks to improved participation from across sectors," says Ajit Mishra, vice president - research at Religare Broking

** "Focus should remain on identifying the leaders from the respective sectors instead of adding laggards in the hope of recovery"

** The rise in Nifty 50 has been aided by stable earnings and sustained foreign inflows, three analysts said

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** Shares of Reliance Industries Ltd RELI.NS rise as much as 2.40% to 2498.50 rupees

** Stock is the top Nifty 50 .NSEI gainer, which is up 0.8% to an over five-month high of 18,478.55

** Bernstein, in a note on Wednesday, said Reliance Retail/Reliance Jio are the best positioned players in the largest and fastest growing Indian e-commerce market

** Adds Reliance Retail and Reliance Jio will likely claim the lion's share of $150+ bln e-commerce marketplace in India, in the long term; reiterates "outperform" on RELI

** Trading volume is 3.84 mln shares as of 2:05 p.m. IST, 0.8x the 30-day avg - Refinitiv data

** Stock was little changed on Thursday in a volatile session on May derivatives series expiry

** 26 analysts rate stock 'buy' or higher, three 'hold' and two 'sell;' median PT is 2,822 rupees

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Updates with Nestle India's response in paragraph 5

** Stocks in India's fast moving consumer goods companies (FMCG) rise in a weak market, with the FMCG index .NIFTYFMCG gaining to a record high of 0.95%

** ITC Ltd ITC.NS, which has a weightage of over 32% in the FMCG index, climbs as much as 2.06% to a record high of 442.45 rupees

** ITC stock is top gainer in FMCG index

** Stock gains amid a media report that ITC and Nestle India Ltd NEST.NS have emerged as finalists in the race for leading ingredients maker Capital Foods Pvt Ltd

** Nestle India spokesperson declined to comment.

** ITC and Capital Foods Pvt Ltd are yet to respond to Reuters' email seeking confirmation of the media report

** Trading volume is 11.24 mln, same as the 30-day avg - Refinitiv data

** Of 36 analysts tracking ITC, 32 maintain "buy" and four suggest "hold"; median PT is 473 rupees

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** Shares of Sun Pharmaceutical Industries Ltd SUN.NS rise as much as 2.49% to 954.80 rupees

** Stock is top gainer on Nifty 50 index .NSEI

** Global brokerage firm Macquarie reiterates "outperform" on SUN with a target price of 1,275 rupees

** SUN's unit Taro Pharma's March quarter results beat revenue and core profit estimates, says Macquarie

** Adds core profit margin of Taro jumped to 13.70% compared with estimates of 8%

** Trading volume was 2.91 mln shares as of 3:24 p.m. IST, 1.3 times the 30-day avg. - Refinitiv data

** Of the 38 analysts tracking SUN, 34 maintain "buy", one suggests "sell" and three recommend "hold"; median TP is 1,177.50 rupees

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** Shares in electronics manufacturing services provider Syrma SGS Technology SYRM.NS rise as much as 5.2% to 335.40 rupees, their highest in nearly nine months

** Co's net profit climbed to 423.2 mln rupees ($5.17 mln) for the quarter ended March 31, from 163.6 mln rupees a year earlier

** Domestic demand for electronics manufacturing services continues to be robust across industries, Syrma SGS said in an exchange filing after the bell on Thursday

** Revenue from operations jumped 83% to 6.8 bln rupees

** The upbeat numbers come as India is looking to position itself as a global electronics production hub

** Syrma SGS shares, last up 4.5%, have climbed nearly 19% so far this year

($1 = 81.7800 Indian rupees)

(Reporting by Praveen Paramasivam)

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