BSE earnings strong despite STT hike; EMS gains from Budget: Mayuresh Joshi

• Mayuresh Joshi, Director-Research at Marketsmith India, states BSE's performance is driven by revenue and transaction growth, recording its highest quarterly revenue.
• Despite a potential near-term impact from the STT increase, Joshi expects continued transaction revenue growth for BSE due to client and member expansion.
• The electronics manufacturing services (EMS) sector is set to benefit from a ₹40,000 crore Budget allocation, supporting order inflows for companies like Amber Enterprises and Dixon Technologies.
• Joshi highlights a shift towards Original Design Manufacturer (ODM)-led business models, which could boost margin expansion for EMS companies.
• In textiles, competition from Bangladesh and US trade arrangements will impact exports; integrated players like KPR Mill and Vardhman Textiles are better positioned.