Syrma SGS Technology Hits 52-Week High, Rises 10% in Two Days Amid Plans to Set Up PCB Manufacturing Facility in Andhra Pradesh

Syrma SGS Technology's share price rose 5.1% to a 52-week high of ₹682.7 per share, gaining nearly 10% in two days. The stock rallied after the company clarified reports about setting up a PCB manufacturing facility in Andhra Pradesh, with discussions in an advanced stage and expected cabinet clearance soon. The company plans to invest ₹1,800 crore in the project, in partnership with South Korean major Shinhyup Electronics Ltd.

Title: Syrma SGS Technology Shares Surge on PCB Manufacturing Facility Plans

Syrma SGS Technology's share price rose 5.1% to a 52-week high of ₹682.7 per share, gaining nearly 10% in two days. The stock rallied after the company clarified reports about setting up a PCB manufacturing facility in Andhra Pradesh, with discussions in an advanced stage and expected cabinet clearance soon. The company plans to invest ₹1,800 crore in the project, in partnership with South Korean major Shinhyup Electronics Ltd.

The shares of Syrma SGS Technology gained 3.84% at ₹674.1 per share on the BSE at 9:36 AM on July 2, 2025, while the BSE Sensex was down 0.09% at 83,464.5. The company's market capitalisation stood at ₹12,009.63 crore, with a 52-week low of ₹355.05 per share.

The stock gained after the company provided a detailed sequence of events regarding the PCB manufacturing facility in Andhra Pradesh. The company signed a Non-Disclosure Agreement (NDA) with Shinhyup Electronics Co., Ltd. on December 24, 2024, and a Non-Binding memorandum of understanding (MoU) on January 16, 2025. Discussions with GoAP, EDB representatives for land and incentives package, and an application filing with the IT Secretary, GoAP with a detailed project report on June 26, 2025, have been ongoing.

The project is expected to be commissioned by 2026-27 and may be eligible for a production-linked incentive (PLI) under the Government of India’s electronics manufacturing schemes. The company has approached the state government for incentives, including capital subsidy, electricity duty incentives, and skilling incentives.

Syrma SGS Technology, a Chennai-based electronics manufacturing services firm, plans to invest ₹1,800 crore in Andhra Pradesh to establish India’s largest multi-layer printed circuit board (PCB) and copper clad laminate (CCL) manufacturing unit. The facility is likely to be located in Naidupeta, near Tirupati district, to capitalise on the close proximity to Chennai, an established hub for electronics manufacturing.

The new project is expected to add ₹6,200 crore to the topline of Syrma SGS and reduce import dependency, boosting domestic electronics manufacturing. The company is looking to partner with South Korean firm Shinhyup Electronics, which will bring its technological expertise to the venture.

The project is a significant investment in India's electronics manufacturing sector, aiming to establish a stable and cost-effective supply chain for advanced PCBs. The integrated manufacturing approach, including the production of CCL, a fundamental raw material for PCB production, is expected to reduce dependency on imports and ensure a stable, cost-effective supply chain for advanced PCBs within India.

References:
[1] https://www.business-standard.com/markets/news/syrma-sgs-technology-hits-52-week-high-rises-10-percent-in-two-days-pcb-manufacturing-facility-in-andhra-pradesh-125071000221_1.html
[2] https://www.moneycontrol.com/news/business/markets/syrma-sgs-shares-jump-7-on-firm-s-reported-rs-1-800-crore-pcb-plant-in-andhra-pradesh-13246988.html
[3] https://economictimes.indiatimes.com/tech/technology/syrma-sgs-eyes-indias-largest-pcb-unit-in-andhra-pradesh-in-rs-1800-crore-play/articleshow/122327710.cms