Tata Investment Corp shares rises 5%, rallied 18% in last five days; Here's why
₹8,428 per share on March 4, against previous close at ₹8,027 on March 1. In fact, Tata Investment shares rose as much as 18 percent in the last five trading sessions on NSE. The Tata Group's non-banking financial company surged after Union Cabinet approved two semiconductor plant proposals by the Tata Group last week.
Also read: Azad Engineering IPO gives 170% return to allottees in two months of share listing Notably, this marked the third consecutive upper circuit observed in the stock, reflecting significant investor confidence and positive market sentiment surrounding the company's prospects following the recent developments. Tata Electronics, in collaboration with Powerchip Semiconductor Manufacturing Corp (PSMC) from Taiwan, is poised to establish a semiconductor fabrication facility. This state-of-the-art unit will be located in Dholera, Gujarat, and is expected to draw an investment of ₹91,000 crore.
The Cabinet has given its approval for the establishment of Tata Semiconductor Assembly and Test Pvt Ltd's chip assembly and testing unit in Assam, with an investment totaling ₹27,000 crore. This significant investment marks the Assam government's maiden venture into semiconductor packaging facilities. The project will be a collaborative effort between the state government and the esteemed Tata Group.
“This marks the beginning of a new era for India. Tata Electronics is proud to play a prominent role in strengthening the global semiconductor ecosystem. Our partnership with PSMC provides access to a broad technology portfolio in leading edge and mature nodes including 28nm, 40nm, 55nm, 90nm & 110nm, and also collaboration for high-volume manufacturing.
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