ICICI Securities On PLI Scheme: 3M India To Benefit From Increase In Mobile Manufacturing

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.3M USA is supplier of multiple products used in mobile handsets and with an expected increase in the production of handsets in India (under production linked incentive scheme), 3M India Ltd. will be a major beneficiary.Global players such as Samsung and some contract manufactures of Apple Inc. have also been given approvals under the PLI scheme.3M India is likely to benefit considering parent’s relations with these global players.3M India can manufacture some products required by handset manufacturers in India and/or can import from its group companies which will earn it trading margin.We model 3M India to eventually set up new units to manufacture mobile components in India.There will be higher demand for industrial consumables too sold by 3M India such as sanitizers, safety markers, face masks and hand gloves.We remain positive on 3M India due to moats like 1. strong brands, 2. established distribution network and 3. access to technology pool of parent..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Securities On PLI Scheme: 3M India To Benefit From Increase In Mobile Manufacturing

ICICI Securities On PLI Scheme: 3M India To Benefit From Increase In Mobile Manufacturing

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