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Themes / Semiconductor & Electronics Ecosystem / Electronic Components & PCB Fabrication

Electronic Components & PCB Fabrication

SPECS Scheme pushes high-layer PCBs + passives away from Chinese imports

componentspcbipniche
Theme price path

Electronic Components & PCB Fabrication vs Nifty 500

Weekly basket performance over the latest 52 observations. Green is ahead of Nifty 500; red is behind.

Through 19 Oct 2026
Thin evidence
Theme aheadTheme behindNifty 500Base 100 at the first visible weekLatest: Outperforming +33.3%
698910812714731 Oct 2025 | Electronic Components & PCB Fabrication 100.0 | Nifty 500 100.0 | In line 0.0% | breadth 67% | coverage 100%07 Nov 2025 | Electronic Components & PCB Fabrication 99.1 | Nifty 500 99.2 | Underperforming -0.1% | breadth 33% | coverage 100%14 Nov 2025 | Electronic Components & PCB Fabrication 97.4 | Nifty 500 100.5 | Underperforming -3.1% | breadth 33% | coverage 100%21 Nov 2025 | Electronic Components & PCB Fabrication 96.5 | Nifty 500 100.3 | Underperforming -3.8% | breadth 67% | coverage 100%28 Nov 2025 | Electronic Components & PCB Fabrication 91.0 | Nifty 500 100.9 | Underperforming -9.8% | breadth 33% | coverage 100%05 Dec 2025 | Electronic Components & PCB Fabrication 84.1 | Nifty 500 100.5 | Underperforming -16.3% | breadth 0% | coverage 100%12 Dec 2025 | Electronic Components & PCB Fabrication 85.1 | Nifty 500 100.1 | Underperforming -15.0% | breadth 67% | coverage 100%19 Dec 2025 | Electronic Components & PCB Fabrication 85.6 | Nifty 500 99.9 | Underperforming -14.3% | breadth 33% | coverage 100%26 Dec 2025 | Electronic Components & PCB Fabrication 92.7 | Nifty 500 100.3 | Underperforming -7.6% | breadth 100% | coverage 100%02 Jan 2026 | Electronic Components & PCB Fabrication 89.7 | Nifty 500 101.6 | Underperforming -11.7% | breadth 33% | coverage 100%09 Jan 2026 | Electronic Components & PCB Fabrication 85.2 | Nifty 500 99.0 | Underperforming -13.9% | breadth 0% | coverage 100%16 Jan 2026 | Electronic Components & PCB Fabrication 90.1 | Nifty 500 99.1 | Underperforming -9.1% | breadth 67% | coverage 100%23 Jan 2026 | Electronic Components & PCB Fabrication 82.7 | Nifty 500 95.8 | Underperforming -13.7% | breadth 0% | coverage 100%01 Feb 2026 | Electronic Components & PCB Fabrication 86.7 | Nifty 500 95.4 | Underperforming -9.1% | breadth 67% | coverage 100%06 Feb 2026 | Electronic Components & PCB Fabrication 82.8 | Nifty 500 98.8 | Underperforming -16.2% | breadth 0% | coverage 100%13 Feb 2026 | Electronic Components & PCB Fabrication 81.5 | Nifty 500 98.3 | Underperforming -17.1% | breadth 0% | coverage 100%20 Feb 2026 | Electronic Components & PCB Fabrication 84.9 | Nifty 500 98.7 | Underperforming -14.0% | breadth 67% | coverage 100%27 Feb 2026 | Electronic Components & PCB Fabrication 84.3 | Nifty 500 97.7 | Underperforming -13.7% | breadth 33% | coverage 100%06 Mar 2026 | Electronic Components & PCB Fabrication 84.1 | Nifty 500 94.8 | Underperforming -11.3% | breadth 33% | coverage 100%13 Mar 2026 | Electronic Components & PCB Fabrication 79.2 | Nifty 500 90.2 | Underperforming -12.2% | breadth 0% | coverage 100%20 Mar 2026 | Electronic Components & PCB Fabrication 79.1 | Nifty 500 90.0 | Underperforming -12.1% | breadth 33% | coverage 100%27 Mar 2026 | Electronic Components & PCB Fabrication 75.8 | Nifty 500 88.7 | Underperforming -14.5% | breadth 0% | coverage 100%02 Apr 2026 | Electronic Components & PCB Fabrication 78.3 | Nifty 500 88.3 | Underperforming -11.3% | breadth 100% | coverage 100%10 Apr 2026 | Electronic Components & PCB Fabrication 86.5 | Nifty 500 94.2 | Underperforming -8.2% | breadth 67% | coverage 100%17 Apr 2026 | Electronic Components & PCB Fabrication 91.0 | Nifty 500 96.5 | Underperforming -5.7% | breadth 100% | coverage 100%24 Apr 2026 | Electronic Components & PCB Fabrication 89.8 | Nifty 500 95.2 | Underperforming -5.7% | breadth 33% | coverage 100%30 Apr 2026 | Electronic Components & PCB Fabrication 91.0 | Nifty 500 95.7 | Underperforming -4.9% | breadth 67% | coverage 100%08 May 2026 | Electronic Components & PCB Fabrication 101.8 | Nifty 500 97.5 | Outperforming +4.4% | breadth 100% | coverage 100%15 May 2026 | Electronic Components & PCB Fabrication 94.0 | Nifty 500 95.0 | Underperforming -1.1% | breadth 0% | coverage 100%22 May 2026 | Electronic Components & PCB Fabrication 94.6 | Nifty 500 95.5 | Underperforming -0.9% | breadth 33% | coverage 100%29 May 2026 | Electronic Components & PCB Fabrication 109.8 | Nifty 500 95.6 | Outperforming +14.9% | breadth 100% | coverage 100%05 Jun 2026 | Electronic Components & PCB Fabrication 105.7 | Nifty 500 94.8 | Outperforming +11.5% | breadth 33% | coverage 100%12 Jun 2026 | Electronic Components & PCB Fabrication 108.3 | Nifty 500 95.3 | Outperforming +13.6% | breadth 67% | coverage 100%19 Jun 2026 | Electronic Components & PCB Fabrication 106.4 | Nifty 500 97.7 | Outperforming +8.9% | breadth 33% | coverage 100%26 Jun 2026 | Electronic Components & PCB Fabrication 106.6 | Nifty 500 97.5 | Outperforming +9.3% | breadth 67% | coverage 100%03 Jul 2026 | Electronic Components & PCB Fabrication 115.5 | Nifty 500 98.3 | Outperforming +17.5% | breadth 100% | coverage 100%10 Jul 2026 | Electronic Components & PCB Fabrication 111.0 | Nifty 500 98.5 | Outperforming +12.7% | breadth 33% | coverage 100%17 Jul 2026 | Electronic Components & PCB Fabrication 109.6 | Nifty 500 98.4 | Outperforming +11.4% | breadth 33% | coverage 100%24 Jul 2026 | Electronic Components & PCB Fabrication 117.1 | Nifty 500 96.7 | Outperforming +21.1% | breadth 67% | coverage 100%31 Jul 2026 | Electronic Components & PCB Fabrication 117.1 | Nifty 500 98.9 | Outperforming +18.4% | breadth 33% | coverage 100%07 Aug 2026 | Electronic Components & PCB Fabrication 124.4 | Nifty 500 100.0 | Outperforming +24.4% | breadth 100% | coverage 100%14 Aug 2026 | Electronic Components & PCB Fabrication 116.0 | Nifty 500 99.5 | Outperforming +16.6% | breadth 33% | coverage 100%21 Aug 2026 | Electronic Components & PCB Fabrication 113.5 | Nifty 500 99.1 | Outperforming +14.5% | breadth 33% | coverage 100%28 Aug 2026 | Electronic Components & PCB Fabrication 116.0 | Nifty 500 99.2 | Outperforming +16.9% | breadth 67% | coverage 100%04 Sept 2026 | Electronic Components & PCB Fabrication 122.6 | Nifty 500 98.1 | Outperforming +25.0% | breadth 100% | coverage 100%11 Sept 2026 | Electronic Components & PCB Fabrication 129.6 | Nifty 500 96.4 | Outperforming +34.4% | breadth 67% | coverage 100%18 Sept 2026 | Electronic Components & PCB Fabrication 132.3 | Nifty 500 96.3 | Outperforming +37.4% | breadth 100% | coverage 100%25 Sept 2026 | Electronic Components & PCB Fabrication 140.4 | Nifty 500 95.3 | Outperforming +47.3% | breadth 67% | coverage 100%01 Oct 2026 | Electronic Components & PCB Fabrication 136.4 | Nifty 500 92.2 | Outperforming +47.9% | breadth 0% | coverage 100%09 Oct 2026 | Electronic Components & PCB Fabrication 127.8 | Nifty 500 92.2 | Outperforming +38.6% | breadth 33% | coverage 100%16 Oct 2026 | Electronic Components & PCB Fabrication 127.2 | Nifty 500 93.9 | Outperforming +35.5% | breadth 33% | coverage 100%19 Oct 2026 | Electronic Components & PCB Fabrication 124.0 | Nifty 500 93.0 | Outperforming +33.3% | breadth 0% | coverage 100%Outperforming +33.3%31 Oct 202524 Apr 202619 Oct 2026
Theme return
+24.0%
Nifty 500
-7.0%
Vs Nifty 500
+33.3%
Latest coverage
3/3

Fewer than five constituents have adequate aligned history, so treat this plot as preliminary evidence.

How this plot is calculated

The theme line is green when its cumulative rebased performance is above Nifty 500 and red when it is below. The chart callout shows the latest relative performance as the theme level divided by the benchmark level, minus one.

The basket uses the theme's current reviewed companies. For each available week, we calculate every valid constituent's close-to-close return and give each company the same weight. If a weekly rollup is missing or lags the daily series, the final available daily close in that week is used.

For baskets with at least 10 valid stocks, the highest and lowest 5% of weekly returns are trimmed to reduce split, corporate-action, and single-stock distortions. Weekly basket returns are then compounded and rebased to 100 beside the Nifty 500.

Breadth is the share of valid constituents that rose that week. Coverage is the number with usable aligned prices divided by current membership. Weekly moves above 80% are excluded as likely data or corporate-action outliers.

Limitation: this is a current-membership historical reconstruction, not a point-in-time investable index. It can contain survivorship bias and excludes costs, liquidity impact, dividends, and rebalancing turnover.

Model note: Current-member weekly equal-weight returns (5% tails trimmed for baskets of 10+), compounded and rebased to 100 against Nifty 500; lagging weekly rollups are patched with the final available daily close, and rotation uses 13-week excess return with four-week acceleration.

Theme scorecard

Measures whether this idea is investable today by blending cohort quality, valuation cushion, and price momentum. It is a research filter, not advice.

Build portfolio from this theme
Theme
32
Stretched
Quality
21
Valuation
36
Momentum
51
Positive MoS
33%
P/E 45.3 · ROCE 26%

Thesis

The Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) pushes high-layer PCBs and passive components (resistors, capacitors, magnetics) into domestic production. Fragmented cohort, but specific names have built export-grade IP niches — Shivalik in shunt resistors, Centum in aerospace PCBs, Kernex in railway safety electronics.

  • ▸SPECS scheme subsidises component + PCB capex
  • ▸Shift from Chinese imports to domestic supply
  • ▸Niche IP (aerospace PCBs, shunts, safety electronics) = pricing power
  • ▸Fragmented — name selection matters more than basket exposure

Top picks · ranked by U-Score within this cohort

The rationale above is editorial — the ranking uses our U-Score engine so the names you see first are the strongest fundamentals fit, not the most popular or most-mentioned. Re-rank yourself if you weigh valuation or quality differently. All information is for study purposes only — consult your financial advisor before investing.