 "Syrma SGS shares gain 3% on forming JV with Italy's Elemaster; details here")
Shares of Syrma SGS Technology rose over 3 per cent after the company signed a Joint Venture Agreement with Italy's Elemaster S.p.A Tecnologie Elettroniche.
The industrial products' stock rose as much as 3.07 per cent during the day to ₹779.5 per share, the biggest intraday rise since August 29 this year. The stock pared gains to trade 0.5 per cent higher at ₹759 apiece, compared to a 0.43 per cent advance in Nifty 50 as of 10:20 AM.
Shares of the company rose for the fourth straight session and currently trade at 1.7 times the average 30-day trading volume, according to Bloomberg. The counter has risen 28 per cent this year, compared to a 4.5 per cent advance in the benchmark Nifty 50. Syrma SGS has a total market capitalisation of ₹14,620.54 crore.
Syrma SGS, Italy's Elemaster form joint venture
Syrma SGS Technology has signed a joint venture agreement with Italy-based Elemaster S.p.A Tecnologie Elettroniche, a global electronics design and manufacturing leader, according to an exchange filing.
The joint venture, to be operated through Syrma SGS Design and Manufacturing Pvt. Ltd. (to be renamed Syrma SGS Elemaster Pvt. Ltd.), will create a dedicated India-focused platform to serve high-reliability customers in the railway, industrial and medical electronics sectors.
The facility will be located in the Bommasandra Industrial Area, Bengaluru, with an initial footprint of around 20,000 sq. ft., configured with surface-mount technology (SMT), through-hole technology (THT) and box-build assembly lines, the filing said.
The partnership aims to combine Syrma’s scaled, cost-efficient execution capabilities with Elemaster’s design expertise and long-standing European OEM relationships, the statement said. The venture is expected to unlock margin-accretive opportunities, expand global account penetration, and deepen the integration of 'Make in India' solutions into critical, high-growth markets.
"The JV structure ensures dedicated focus on high-reliability customers, efficient cost structures, and scalable operations," Satendra Singh, chief executive officer, Syrma SGS Tech, said. "With a phased expansion plan and joint governance, the platform is well-positioned to drive accretive growth across railway, industrial, and medical electronics."
Syrma SGS Q1 results
The company reported a 157.72 per cent jump in net profit to ₹49.74 crore for the quarter ended June 2025, compared with ₹19.30 crore in the same quarter last year. Revenue from operations, however, fell 18.62 per cent to ₹943.98 crore from ₹1,159.97 crore.
Syrma SGS manufactures various electronic sub-assemblies, assemblies and box builds, disk drives, memory modules, power supplies/adapters, fibre optic assemblies, magnetic induction coils and RFID products, and other electronic products.