Prime Minister Narendra Modi addressed the Semicon India 2024, highlighting India’s developments, focus, and vision on ongoing projects and plans catering to the semiconductor industry and India’s semiconductor mission thereby boosting the Nation’s growth and prosperity.
He stated that semiconductor is the basis of the digital age and that the day is not far when the semiconductor industry will be the bedrock for even basic necessities, according to a statement from his office.
PM Modi also shared a plan to create a workforce of 85,000 skilled professionals, including technicians, engineers, and R&D experts, who will be industry-ready in the coming years.
He added that ISM 2.0 will have an allocation of about $15 billion and is currently awaiting final cabinet approval. It will focus more on developing the supply chain for semiconductors by concentrating on raw materials, gases, equipment, lead frames, substrates, and chemicals, he said.
Uttar Pradesh Joins Gujarat and Assam in promoting and boosting semiconductors in India. Uttar Pradesh is prepared to offer a capital subsidy of up to 25 percent to companies establishing semiconductor fabs in the state. This state subsidy, combined with the central government’s 50 percent capex support, could provide semiconductor units in Uttar Pradesh with up to 75 percent in total capital subsidies.
The state will also offer land subsidies at lower rates and introduce support schemes for Fortune 500 companies and those bringing foreign direct investment (FDI).
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India aims for $500 billion in electronics sector growth by the end of the decade, up from the present $150 billion. The demand for semiconductors in the country is forecasted to surpass $80 billion by 2026 and $110 billion by 2030.
Listed below are some of the stocks engaged in offering products and services related to semiconductors, who are setting up semiconductor factories or have plans of establishing businesses related to it:
Adani Enterprises
Adani Enterprises Limited is a holding company operating across various businesses like resource management, FMCG, Power, airports, data centers, and many more through its Joint Ventures/subsidiaries/associates.
The Maharashtra cabinet panel has approved a $10-billion or Rs. 83,947 crores investment proposal by a joint venture of Israel’s Tower Semiconductor-Adani Group to set up a semiconductor chip manufacturing unit at Taloja, Panvel, with a capacity to manufacture 80,000 wafer starts per month.
With a market capitalization of Rs. 3,39,988 Crores, the shares of Adani Enterprises Limited closed at Rs. 2,982.35 per equity share, up 1.53 percent from its previous day’s close price of Rs. 2,937.35.
Kaynes Technology India
Kaynes Technologies India Limited is an end-to-end and Internet of Things (IoT) solutions-enabled integrated electronics manufacturer. It offers its products and services to major players in the automotive, industrial, nuclear, medical, railway, aerospace and defense, outer space, nuclear, medical, railways, and many others.
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Kaynes Technologies India Limited is setting up a semiconductor facility in Gujarat with an investment of Rs. 3,307 Crores, and a semiconductor OSAT and compound semiconductor facility in Hyderabad with an investment of Rs. 2,800 Crores.
With a market capitalization of Rs. 33,058 Crores, the shares of Kaynes Technology India Limited closed at Rs. 4,659.80 per equity share, up 11 percent from its previous day’s close price of Rs. 4,659.80.
CG Power and Industrial Solutions
CG Power and Industrial Solutions Limited is engaged in providing end-to-end solutions to utilities, industries, and consumers for the management and application of efficient and sustainable electrical energy.
CG Power and Industrial Solutions Limited in partnership with Renesas Electronics Corporation, Japan, and Stars Microelectronics, Thailand will set up a semiconductor unit in Sanand, Gujarat, with an investment of Rs 7,600 crores.
With a market capitalization of Rs. 1,11,488 Crores, the shares of CG Power and Industrial Solutions Limited closed at Rs. 729.40 per equity share, up 6 percent from its previous day’s close price of Rs. 689.70.
Izmo
Izmo Limited is engaged in providing automotive retail solutions for dealerships worldwide and is the largest global producer of interactive media content for the automotive industry. Its products include a Digital Retail Web Platform, Parts Distribution CRM, Search Engine Marketing, and Data Analytics, among others.
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Izmo Limited has recently forayed into the semiconductor sector through the launch of Izmo Microsystems with a state-of-the-art, System-in-Package (SiP) manufacturing facility focused on cutting-edge semiconductor packaging and manufacturing which is operational now.
With a market capitalization of Rs. 608 Crores, the shares of IZMO Limited hit a 5 percent upper circuit in the day’s trade at Rs. 429.5 per equity share, from its previous day’s close price of Rs. 409.50.
Moschip Technologies
Moschip Technologies Limited is a semiconductor and system design company. It specializes in product design and development services ranging from chip design to Software and Systems Development.
With a market capitalization of Rs. 4,944 Crores, the shares of Moschip Technologies Limited hit a 5 percent upper circuit in the day’s trade at Rs. 260.55 per equity share, from its previous day’s close price of Rs. 248.15.
RIR Power Electronics
RIR Power Electronics Limited is engaged in manufacturing and selling various power semiconductor devices such as bridges, power modules, diodes, rectifiers, and thyristors and it also has a product portfolio that includes low-power to high-power devices and IGBT Modules that find applications in Welding, elevators, Battery Charges, Railways, Medical equipment, and many others.
With a market capitalization of Rs. 2,084 Crores, the shares of RIR Power Electronics Limited hit a 5 percent upper circuit in the day’s trade at Rs. 2,995.20 per equity share, from its previous day’s close price of Rs. 2,852.60.
Written by: Bharath K.S
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