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 Larsen and Toubro
See all newsBrief: Larsen And Toubro Wins Large Orders In New Delhi And Andhra Pradesh
Brief: Larsen And Toubro Commences Initial Activities For New Tashkent International Airport Ultra-Mega Project
ROI-AI isn’t Asia’s only game in town: Manishi Raychaudhuri
India's Torrent Power plans around $500 million bond sale, bankers say
Norway wealth fund should invest in top arms makers, commission says in ethics overhaul (updated)