- Shares of Indian semiconductor stocks fell on July 28 amid global chip equipment sell-off
- CG Power led declines, falling nearly 4% followed by Bharat Electronics and Moschip Semiconductor
- China plans to produce immersion deep ultraviolet lithography machines challenging ASML's monopoly
Shares of Indian semiconductor linked stocks fell during the trading session on Tuesday, July 28 following a sharp sell-off across global chip equipment stocks as China plans to manufacture its own immersion deep ultraviolet (DUV) lithography machines.
The decline in semiconductor linked stocks was led by CG Power & Industrial, falling nearly 4% to Rs 842.2 apiece, followed by Bharat Electronics (BEL), dipping 3.7% to Rs 392.1 per share, Moschip Semiconductor Technology, down 2.85% to Rs 202.37 apiece and SPEL Semiconductor dropping 2.27% to Rs 155.
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The China's manufacturing plans is expected to directly impact Dutch firm ASML's near-monopoly over critical chipmaking technology, the Information reported. The development holds significance as chipmaking relies on lithography machines that use precisely focused light to etch microscopic circuits onto silicon wafers. The finer the etching, the more powerful the chip. ASML has long dominated the most advanced versions of this technology, making it an unavoidable chokepoint for global chipmakers.
The development triggered sharp selloff in the global chip equipment stocks, with ASML shares tumbling more than 7%, worst since June 8. BE Semiconductor Industries dropped 8.5%, Soitec fell 5%, and Infineon Technologies was down nearly 3%. Stocks fell amid concerns of a viable Chinese alternative could reduce reliance on ASML and other Western suppliers, denting future sales and weakening the impact of US-led export restrictions.
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Indian semiconductor companies in focus
- MosChip Technologies: A publicly traded fabless semiconductor and system design company providing turnkey ASIC and IoT solutions.
- SPEL Semiconductor: Operates an integrated circuit (IC) assembly and test facility in the country.
- CG Power and Industrial Solutions: Collaborating on outsourced semiconductor assembly and test (OSAT) plant projects.
- Bharat Electronics Limited (BEL): A public sector defense enterprise developing indigenous microcontrollers and specialized chips for military and civilian applications
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