Latest news with #SemiconductorAssemblyandTest
Mint
12 hours ago
- Business
- Mint
Stocks to watch: HDFC Bank, BEL, L&T, MCX, Bharti Airtel among shares in focus today
HDFC Bank plans to take legal action following accusations from the Lilavati Kirtilal Mehta Medical (LKMM) Trust, which has urged financial regulators to suspend and prosecute the bank's Managing Director and CEO, Sashidhar Jagdishan. According to reports, Suzlon Energy's promoters, the Tanti Family and Trust, are expected to sell 20 crore shares through a block deal on Monday. Adani Group's Ambuja Cements, India's second-largest cement manufacturer, supplies close to 30% of the cement used in the country's residential and infrastructure projects, according to its latest annual report. Tata Steel, a homegrown company, plans to begin construction of its low-carbon, electric arc furnace (EAF)-based steel production facility in the UK starting July 2025, with operations expected to launch by 2027. Infrastructure giant L&T has unveiled a ₹ 500 crore ESG bond offering, marking the first Indian corporate to issue such bonds under SEBI's newly launched framework for ESG and sustainability-linked bonds. Mahindra & Mahindra recorded a 17% year-on-year increase in total sales for May 2025, with volumes rising to 80,458 units from 69,011 units in the same month last year. Production also experienced a strong growth of 28%, reaching 89,626 units compared to 70,261 units in May 2024. However, exports fell by 27% year-on-year to 2,671 units, down from 3,652 units a year earlier. Birla Opus Paints, a subsidiary of the Birla Group, has lodged a complaint with the Competition Commission of India (CCI), accusing Asian Paints, the market leader, of abusing its dominant position. Tata Electronics and Navratna company BEL have entered into a Memorandum of Understanding (MoU) to jointly work on semiconductor and electronics solutions. This partnership aims to support India's self-reliance efforts in areas such as chip design, fabrication, OSAT (Outsourced Semiconductor Assembly and Test), and defence-grade electronic components. MCX has obtained approval from the Securities and Exchange Board of India (SEBI) to introduce electricity derivatives. Telecom operator Airtel has reached out to more than 40 banks, along with the RBI and NPCI, suggesting a close partnership and a unified effort to combat digital fraud, including the exchange of information on a repository of identified fraudulent financial domains. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
New Indian Express
14-05-2025
- Business
- New Indian Express
Government approves HCL-Foxconn semiconductor joint venture in Uttar Pradesh
NEW DELHI: The government on Wednesday approved an application for a joint venture between HCL and Foxconn to set up a Semiconductor Assembly and Test (OSAT) facility in Uttar Pradesh. The minister for Electronics and Information Technology Ashwini Vaishnaw said that with this approval, India now has six semiconductor units at advanced stages of construction. "With this sixth unit, Bharat moves forward in its journey to develop the strategically vital semiconductor industry," said Vaishnaw. The new plant, to be established near Jewar Airport in the Yamuna Expressway Industrial Development Authority (YEIDA) region, will manufacture display driver chips for a wide range of devices including mobile phones, laptops, automobiles, and PCs. It is designed for a capacity of 20,000 wafers per month, with an output of up to 36 million chips monthly. The unit is expected to attract an investment of Rs. 3,700 crore. Vaishnaw emphasized HCL's legacy in hardware development and manufacturing, and Foxconn's global leadership in electronics production. Together, the companies aim to strengthen India's semiconductor manufacturing ecosystem. The minister also highlighted the growing presence of global semiconductor partners in India. He said that the leading equipment manufacturers such as Applied Materials and Lam Research have established operations in the country. Additionally, gas and chemical suppliers like Merck, Linde, Air Liquide, and Inox are preparing to support the industry's expansion.
