Indian chip shares rise as semiconductor investment plan reaches $13.5 billion
BUZZ-Indian chip shares rise as semiconductor investment plan reaches $13.5 billion ** India's semiconductor mission 2.0 has a higher outlay of $13.5 billion vs $8 billion budget in previous plan
** Semiconductor stocks rise; Avalon AVAL.NS jumps more than 10%, Syrma SYRM.NS climbs 7.8%, Cyient DLM CYIT.NS rises 4%, Kaynes KAYN.NS up 1%
** Kaynes signed 2 MoUs for advanced packaging assembly and testing
** Govt approvals, funding arrangements and improvement in working-capital intensity to remain key for co, Kotak says
** Adds, Avalon and Cyient to be key beneficiaries of the chip ecosystem development in India, with potential in power box assembly
** Syrma to form joint venture with South Korea's Shinhyup Electronics for printed circuit board manufacturing facility, which is expected to come online by FY2027
** Govt focused on reforms in chip sector, with two new commercial plants added and investment commitments including chemicals, wafers and substrates, JP Morgan says
(Reporting by Aishwarya Jain in Bengaluru)
Recent news on Kaynes Technology India
See all newsBrief: Kaynes Technology India Says Executed Binding Term Sheet For Establishment Of JV Through Unit
Brief: Kaynes Technology India Executes Term Sheet For Joint Venture With Vishay And Ecomal
Indian chip shares rise as semiconductor investment plan reaches $13.5 billion
India's Kaynes Technology falls after Investec reiterates 'sell' rating
JM Financial, JPMorgan highlight India's smartphone production incentive limits; Dixon falls