The Exchange has sought clarification from Syrma Sgs Technology Limited with respect to recent news item captioned Syrma SGS shares jump 8% on firm's reported Rs 1,800-crore PCB plant in Andhra Pradesh. The response from the Company is attached.
SYRMA · price
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Awaiting price reaction for this filing.
NSE sought clarification after Syrma SGS shares rose 8% on media reports of a Rs 1,800-crore PCB plant in Andhra Pradesh. The company provided a detailed timeline showing negotiations began in December 2024 with an NDA signed with Korea's Shinhyup Electronics, followed by a non-binding MOU in January 2025, a non-binding term sheet in April 2025, and an ECMS application filed with MEITY on May 22, 2025. The company also filed a detailed project report with the Andhra Pradesh IT Secretary on June 26, 2025. Syrma confirmed it is not aware of any undisclosed information that could explain the price movement and stated the article has no material impact on the company.
Though the company downplays the news as non-material, the detailed timeline effectively confirms a major Rs 1,800-crore capex plan for a PCB facility in Andhra Pradesh, likely through a JV with Korea's Shinhyup Electronics. Shareholders should note all deals remain non-binding and the project is still in negotiation and government approval stages, meaning execution risk remains high despite the stock move.