Antique Stock Broking Initiates Coverage on EMS Sector Stocks 📡
Published on: 28 June 2025
EMS sector poised for 27% CAGR—Syrma SGS & Cyient DLM among top picks
💡 Sector Snapshot: India’s EMS market projected to reach ₹27.7 lakh crore by FY28, driven by PLI schemes, demand across sectors, and China+1 strategy.
Coverage & Target Prices
| Company | Rating | Target Price |
|---|---|---|
| Syrma SGS Technology | Buy | ₹671 |
| Cyient DLM | Buy | ₹567 |
| Kaynes Technology | Hold | ₹5,970 |
| Avalon Technologies | Hold | ₹933 |
Why Antique Is Bullish
- Robust 27% CAGR growth potential from FY23–28
- Supportive government policies (PLI, Make in India)
- Rising global interest as an alternative to China
- Value-added services & backward integration boost margins
Key Watchpoints
- Low entry barriers → rising competition
- Need for diverse clients & strong execution
- Dependence on global supply chain stability
✅ Final Take: Syrma SGS & Cyient DLM rated ‘Buy’ with upside potential. EMS sector remains structurally strong amid local demand and global outsourcing trends.
