Shares of Syrma SGS Technology Ltd dropped 2.25% after touching a day’s high of Rs 821.95 on 2nd December, despite the company saying on Monday (1st December) that it has begun construction of a new state-of-the-art printed circuit board manufacturing facility in Andhra Pradesh.

Syrma SGS said the new plant is being built through its subsidiary, Syrma Strategic Electronics Pvt Ltd. This will strengthen the company’s position in India’s rapidly expanding electronics manufacturing sector. Located in the Naidupeta Industrial Zone, the facility will produce a full range of PCBs, from single-layer to multi-layer boards. It will boost the company’s overall manufacturing capacity.

The project is expected to create over 1,000 direct jobs and support the development of Naidupeta as a growing industrial hub. Syrma SGS added that the plant will help drive local employment and regional economic growth.

The company has also formed a joint venture with South Korea’s Shinhyup Electronics (SH Electronics Ltd), known for its PCB engineering expertise. The collaboration combines Shinhyup’s technical strength with India’s manufacturing momentum. This positions the new facility to deliver better capabilities, higher quality, and greater competitiveness.

At 12:50 PM, shares of Syrma SGS were trading 2.39% lower at Rs 793.60 on NSE.

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