J.P. Morgan bullish on India’s electronic manufacturing services on strong growth prospect

About this update from Dixon Technologies (india) Ltd.

** 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 NSE:SYRMA, Dixon Technologies NSE:DIXON and Kaynes Technology NSE:KAYNES 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%

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