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Hot Pursuit News

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(12 Jul 2024, 13:32)

Cyient spurts on forming a unit for semiconductor biz

Cyient jumped 3.17% to Rs 1832 after the company announced the formation of a fully-owned subsidiary for semiconductor business.

This strategic move positions Cyient to capitalize on the burgeoning semiconductor market in India and globally. The new subsidiary aims to strengthen its position in the semiconductor market by offering top-tier ASIC design and chip sales. The subsidiary will operate under experienced leadership, adapting to market cycles, and more effectively addressing this industry's technology and capital requirements.

Krishna Bodanapu, vice chairman & managing director of Cyient, said, "We are happy to announce this strategic initiative that enhances our capabilities in Application Specific Integrated Circuit (ASIC) turnkey design and manufacturing. As the global semiconductor market is expected to hit a trillion dollars by 2030 and the Indian Electronics and Semiconductor Association (IESA) fore...

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