Shares of Kaynes Technologies are expected to be in the spotlight in tomorrow’s trading session following the Cabinet’s approval of a ₹3,300 crore semiconductor plant proposal from its subsidiary, Kaynes Semicon. The plant is the fifth approved under India’s ambitious ₹76,000 crore Semiconductor Program, aimed at bolstering the country’s chip manufacturing capabilities.
The new facility, to be located in Sanand, Gujarat, will have the capacity to produce 60 lakh chips per day, significantly enhancing India’s semiconductor production. This approval marks a crucial step in strengthening the domestic semiconductor supply chain, especially as global demand for chips continues to surge.
The proposed unit will be setup with an investment of Rs 3,300 crore and capacity of this unit will be 60 lakh chips a day. Chips produced in this unit will cater to a wide variety of applications which include segments such as industrial, automotive, electric vehicles, consumer electronics, telecom, mobile phones, etc.
With the addition of Kaynes Semicon’s facility, the cumulative daily capacity of India’s four semiconductor plants currently under construction will reach a remarkable 7 crore chips. This expansion is expected to play a pivotal role in meeting both domestic and international demand, positioning India as a key player in the global semiconductor industry.
Investors and market watchers will be closely monitoring Kaynes Technologies’ stock, anticipating a positive response to the Cabinet’s approval. The company’s involvement in the semiconductor space could offer substantial growth opportunities, aligning with the government’s vision to transform India into a global semiconductor hub.
