Shares of RIR Power Electronics rose around 8% on Friday following the completion of advanced silicon carbide (SiC) semiconductor manufacturing reactors in Odisha. The company aims to establish India's first vertically integrated SiC production hub at this facility, marking a key milestone in its semiconductor manufacturing expansion, according to livemint.com.
The installation of the SiC semiconductor reactors was completed recently, enabling RIR Power Electronics to enhance its production capabilities. This development was announced ahead of the trading session, which saw a positive market reaction reflected in the stock price increase. The company’s strategic move positions it to cater to growing demand in the semiconductor sector, as detailed by livemint.com.
This expansion is significant given the global semiconductor shortage and India's push to boost domestic chip manufacturing. RIR Power Electronics’ facility in Odisha aims to reduce reliance on imports by producing SiC semiconductors locally. The move aligns with government initiatives to strengthen the semiconductor supply chain in India, placing RIR Power Electronics among key players in the emerging market for advanced chip production, per livemint.com.
RIR Power Electronics’ new semiconductor manufacturing hub in Odisha is set to become operational soon, with the company focusing on scaling production capacity. The stock’s 8% rise on September 18 reflects investor confidence in the company’s growth prospects amid the expanding semiconductor industry in India, as reported by livemint.com.