Syrma SGS to Kaynes Tech: EMS stocks jump up to 7.5% as Centre waives customs duty on key electronic components

Government waived basic customs duty on key electronic components used in display assemblies, lithium-ion cells, and inductor coil modules until March 31, 2029. EMS stocks rallied with Kaynes Technology gaining 7.5% to around Rs 1,446, while PG Electroplast, Dixon Technologies, Syrma SGS, and Amber Enterprises rose up to 6%. The move aligns with the PLI scheme and the Electronics Component Manufacturing Scheme, which has an outlay of Rs 40,000 crore, aimed at reducing import dependence and boosting domestic electronics manufacturing.