Semicon India 2024: RIR Power, SPEL, other Semiconductor stocks surge 5% after PM Modi reaffirms commitment to make India a semiconductor hub

Semiconductor stocks jumped as much as 5% after Prime Minister Narendra Modi reaffirmed India’s commitment to strengthening its semiconductor infrastructure during his address at the Semicon India 2024 event. The announcement led to a surge in semiconductor stocks on the market today.

Semiconductor Stocks gains 5% higher

As of this afternoon, stocks such as RIR Power Electronics and SPEL Semiconductor hit their respective upper circuits of 5%, attracting only buyers. Other semiconductor-related stocks like CG Power and ASM Technologies were trading 2.5% higher, while Moschip Technologies shares rose by 4%.