Shares of major Electronics Manufacturing Services (EMS) firms such as Dixon Technologies, Kaynes Technology and Amber Enterprises rose by up to 8 percent in Friday's trading session amid the intensifying US-China trade war.
The shares of the EMS companies jumped on hopes of higher orders and margins as investors feel a prolonged dispute between the world's two biggest economies - US and China is likely to benefit the Indian manufacturers and exports linked to electronics manufacturing.
China raised additional tariffs on US goods to 125 percent from 84 percent, effective April 12, 2025. This came after U.S. President Donald Trump raised tariffs against China to 145 percent on Thursday, even after announcing a 90-day pause on the reciprocal tariffs on most other countries.
Dixon Technologies (India) was the top gainer in the Nifty Consumer Durables index, rising 7.66 percent. The stock opened with a gain of 5 percent today and has been rising for the last three trading sessions. The stock has gained nearly 14 percent during the 3-day rise.
PG Electroplast shares followed closely to rise 8.41 percent to a high of Rs 923 per share. The counter had opened with a gain of 3.83 percent.
Amber Enterprises, Kaynes Technology and Syrma SGS Technology rose between 6 to 8 percent.
United States has hit a pause button on additional tariffs of up to 26 percent on India for a period of 90 days, until July 9. The decision, announced via an executive order from the White House, follows US President Donald Trump’s move on April 2 to impose sweeping universal tariffs on nearly 60 countries.
While the baseline 10 percent duty remains, the three-month pause provides crucial breathing space for Indian exporters and policymakers to push for a broader trade agreement with the US.
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