Semiconductor and electronics manufacturing stocks were in sharp demand on Friday, September 18, as SEMICON India 2026's Day 2 is underway in New Delhi, putting India's chip manufacturing ambitions firmly in the spotlight.
Avalon Technologies was the standout mover, gaining 8.34% in early trade. Syrma SGS rose 6.48%, while Kaynes Tech advanced 2.44%, and Dixon Tech rose 0.70%.
Prime Minister Narendra Modi inaugurated the three-day event yesterday, which runs from September 17 to 19 under the theme "Silicon to Systems: Building the Ecosystem." The event is bringing together more than 600 exhibitors, 300 international companies and participants from over 40 countries.
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India has received investment pledges of as much as $12 billion from global and local investors within months of launching its new semiconductor policy, marking an acceleration in its efforts to become a chip-making nation, as per Bloomberg reports.
The interest comes after India in July announced a fresh $13.4 billion semiconductor fund, stepping up efforts to build a domestic chip industry. It seeks to boost a previous $10 billion subsidy program that's helped the likes of the Tata Group and Micron Technology Inc. to set up fabrication and assembly plants in the South Asian country.
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