New incentive scheme cheers Indian phonemakers, stocks rally
New Delhi, July 16 -- New Delhi,
Mumbai :
The Centre's new Rs.62,500-crore incentive scheme lifted shares of listed electronics manufacturing services (EMS) companies on Thursday.
Dixon Technologies (India) Ltd, Syrma SGS Technology Ltd, Kaynes Technology India Ltd and Amber Enterprises India Ltd-four of India's largest listed EMS firms-gained 6.1%, 1.5%, 3% and 2%, respectively, even as the benchmark Nifty 50 was largely flat.
While Dixon, which makes smartphones for Vivo, and Amber, which signed an agreement with Chinese handset maker Oppo in June, are directly involved in mobile phone manufacturing, Syrma and Kaynes participate in the ministry of electronics and information technology's (MeitY) Electronics Components Manufacturing ...
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