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Syrma, Cyient, Avalon: JPMorgan downgrades all 3 despite 47% EPS growth—Here’s why

Posted on September 29, 2026
By Financial Express
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1 min read

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Syrma, Cyient, Avalon: JPMorgan downgrades all 3 despite 47% EPS growth—Here’s why

JPMorgan downgraded Syrma SGS, Avalon Technologies and Cyient DLM, arguing that earnings growth needs to be weighed against valuation, ROCE and working-capital intensity.