Tata Investment Corporation shares jump 21% in 4 days after approval for semiconductor plants
Tata Electronics will set up a semiconductor fab in partnership with Powerchip Semiconductor Manufacturing Corp (PSMC), Taiwan. This unit will be constructed in Dholera, Gujarat. The plant will attract Rs 91,000 crore investment.
The Cabinet also approved Tata Semiconductor Assembly and Test Pvt Ltd’s chip assembly and testing unit in Assam at an investment of Rs 27,000 crore. This will be the first investment in a semiconductor packaging plant by the Assam government. It will be built jointly by the state government and 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. We are confident that the upcoming Fab will support our ambitions of “Make in India, For the World”. We will be able to serve our global customers’ requirements for supply chain resilience and meet the growing domestic demand," said Dr Randhir Thakur, MD, and CEO, Tata Electronics.
Tata Investment Corporation is also a multibagger stock as it has given over 100% returns to its investors in the last 3 months. Meanwhile, the stock is up more than 240% in the last six months, 310% in 1 year, and 540% in the last two years.
In Q3 FY24, the company posted a 62% year-on-year (YoY) jump in its standalone net profit for the quarter ended
