Best Semiconductor Stocks in India (2025)

The semiconductor industry in India is growing rapidly and is set to become the backbone of the technology sector in the coming years. Growing demand, government policy support and large-scale investments have made semiconductor stocks attractive for investors. If you want to participate in the future growth of the semiconductor industry, then it is important to take a look at semiconductor companies listed on the Indian stock market. 

In this blog, we will give you an overview of the top 10 semiconductor stocks in India , their KPIs, benefits and risks of investing in them.

What Are Semiconductor Stocks?

Semiconductor stocks are shares of companies engaged in different stages of the semiconductor value chain, including chip design, wafer fabrication, assembly, testing, marking and packaging. In India, this segment is evolving rapidly, with firms not only providing design services but also expanding into ATMP (assembly, testing, marking and packaging) and OSAT (outsourced semiconductor assembly and test). These developments are making semiconductor stocks an increasingly attractive option for investors.

• Design / IP: Companies that design chips (such as MosChip)
• Packaging and Testing (OSAT/ATMP): Units that are used to make chips ready and reliable
• Manufacturing / Fabs and Equipment: Recent investments in the country, such as HCL-Foxconn’s OSAT unit, and Tata’s Assembly & Test factory in Assam, show the strength of this sector

Thus, semiconductor stocks India, whether related to design or packaging/testing, are telling the story of real economic and technological change.

Top 10 Best Semiconductor Stocks in India

Company	Current Market Price (in ₹)	Market Capitalisation (in ₹ crore)	52-Week High (in ₹)	52-Week Low (in ₹)
HCL Technologies Ltd	₹1,419	3,85,191	₹2,012	₹1,303
Bharat Electronics	₹371	2,71,047	₹436	₹240
Vedanta Ltd	₹446	1,74,306	₹527	₹362
ABB India	₹5,115	1,08,391	₹8,941	₹4,590
Dixon Technologies	₹17,870	1,08,139	₹19,150	₹12,022
Hitachi Energy India Ltd	₹18,818	83,875	₹21,800	₹8,738
Tata Elxsi Ltd	₹5,431	33,831	₹8,142	₹4,601
ASM Technologies Ltd	₹3,527	4,596	₹3,981	₹1,033
Moschip Technologies Ltd	₹239	4,597	₹279	₹125
MIC Electronics Ltd	₹64.9	1,565	₹115	₹44.2

Overview of the Top 10 Semiconductor Stocks in India 

A brief overview of the best semiconductor Stocks in India is given below:

1. HCL Technologies Ltd

HCL Technologies was started in 1976 and today it is counted among the largest IT service companies in India. Over time, the company not only focused on software, but also strengthened its hold in engineering and technology development. In recent years, HCL has also entered the semiconductor sector. In partnership with Foxconn, it is setting up an OSAT unit in Jewar, Uttar Pradesh, which can start work by 2027. It is considered to be the country’s first major chip packaging facility. This initiative will not only connect India to the global semiconductor network, but will also prove to be important in the direction of self-reliance in electronics production.

Know the Returns: 

1Y Return	3Y Return	5Y Return
-20.87%	53.26%	103.59%

Read Also: HCL Technologies Case Study

2. Bharat Electronics Ltd (BEL)

Bharat Electronics Ltd was founded in 1954 and has been engaged in 

creating electronic solutions for the defense sector since its inception. In the initial phase, BEL made basic components like semiconductors and integrated circuits, which strengthened India’s electronics industry. Today the company manufactures many important products such as radar systems, communication networks and avionics. Recently BEL has started collaboration with Tata Electronics on semiconductor and electronics manufacturing. Due to long experience and government support, BEL is counted among the organizations that will further strengthen India’s semiconductor value chain in the coming times.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
24.10%	239.53%	942.14%

3. Vedanta Ltd

Vedanta Ltd is one of the largest mining and metal companies in India. Formed in 1979, this company mainly deals in resources like aluminum, copper, zinc and oil-gas. Its name is in the news in the semiconductor industry because metals like copper and silver play an important role in chip manufacturing and packaging. Some time ago Vedanta had planned to set up a semiconductor fab in India, although the project faced challenges. Still, this initiative makes the company’s direction clear that it wants to be a part of this sector in the future. Direct chip production may not happen right now, but its importance in the supply chain cannot be ignored.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
-3.66%	72.83%	252.49%

Read Also: Vedanta Case Study

4. ABB India

ABB India is the Indian unit of the global ABB group and has been active here for several decades. It is known in power systems, automation and industrial robotics. Even though it does not manufacture semiconductor chips itself, its contribution to this sector is no less important. Any chip factory or packaging unit requires reliable power solutions and smart automation. ABB’s high-voltage equipment and control technology meet this need. This is why the company is considered an indirect but strong partner of India’s semiconductor ecosystem. It plays a role that strengthens the foundation of factories.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
-33.09%	52.88%	435.84%

5. Dixon Technologies

Dixon Technologies was formed in the early 1990s and today it is counted among the largest electronics manufacturing companies in India. From TVs, mobile phones, washing machines to LED lights Dixon produces for many big brands. Recently, it became a manufacturing partner for the Google Pixel phone, thereby adding its name to the global electronics supply chain. Dixon does not manufacture semiconductor chips itself, but delivers chip-based products to the mass market through electronic assembly and packaging. This is why Dixon is considered an important link in India’s growth story.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
39.65%	333.97%	938.42%

6. Hitachi Energy India Ltd

Hitachi Energy India, part of the global Hitachi Energy group, has been operating in India for several decades. The company specializes in power transmission and grid solutions. Semiconductor manufacturing units require a very stable and reliable power supply, and that is exactly what Hitachi Energy offers. Even though the company does not manufacture chips directly, modern chip factories cannot function without high-voltage systems and power control technology. This is why Hitachi Energy is considered a key partner in India’s semiconductor ecosystem. It works at the backend to build the infrastructure that drives the industry.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
60.90%	398.42%	1,981.24%

7. Tata Elxsi Ltd

Tata Elxsi was started in 1989 and is part of the Tata Group. The company is known for design, engineering and research services. Tata Elxsi provides technology support to a wide range of industries from automobiles to electronics and healthcare. In recent years, the company has also been involved in India’s chip design programs, especially by working on chips with 28nm to 90nm technology. This initiative has helped India gain a place in global chip design. Tata Elxsi is being considered an important player in the semiconductor ecosystem due to its engineering expertise and innovation capability.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
-29.73%	-37.56%	371.77%

8. ASM Technologies Ltd

ASM Technologies has made a name for itself in the world of technical engineering. It recently signed an investment agreement of ₹510 crore with the Government of Karnataka, enhancing its capabilities in precision engineering and design-focused manufacturing for the electronics, semiconductor and solar industries. The company is now operating from two new manufacturing facilities Dabaspet (Karnataka) and Sriperumbudur (Tamil Nadu) which will provide mastery in design-led manufacturing. This initiative clearly signifies that ASM is taking confident steps towards technical depth and becoming India as a semiconductor engineering hub.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
130.52%	513.71%	6,159.76%

9. MosChip Technologies Ltd

MosChip Technologies is a Hyderabad-based company that specializes in semiconductor design and system engineering. The firm offers solutions at every stage from system-on-chip (SoC), ASIC and product engineering such as voice-to-graphics. Recently, the government’s semiconductor initiatives have boosted investor confidence, with MosChip’s stock jumping 19% to Rs 229 in a single day. The gist is clear: the company is not just a technical force, but is also gaining prominence in the eyes of the market.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
6.95%	216.25%	2,100.00%

10. MIC Electronics Ltd

MIC Electronics is an old but still strong name, manufacturing LED video displays, telecom equipment and digital signage solutions. It recently signed an MoU with Singapore-based Neo Semi SG with plans to expand into semiconductor IP, AI-driven energy logistics and circular electronics. This move, coupled with its long-standing technology experience, puts MIC at the centre of new opportunities in the Indian semiconductor theme.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
-15.66%	358.08%	9,573.13%

Key Performance Indicators (KPIs)

The key performance metrics of semiconductor Stocks in India are mentioned below:

Company	Operating Margin (%)	Net Profit Margin (%)	ROE (%)	ROCE (%)	Debt to Equity
HCL Technologies Ltd	20.42	14.86	24.96	30.84	0.03
Bharat Electronics	29.90	22.24	26.64	33.72	0.00
Vedanta Ltd	22.82	13.42	36.36	26.92	1.79
ABB India	20.75	15.35	26.45	35.54	0.00
Dixon Technologies	3.20	3.12	36.39	29.88	0.07
Hitachi Energy India Ltd	8.79	6.01	9.11	13.07	0.00
Tata Elxsi Ltd	28.08	21.04	27.44	34.27	0.00
ASM Technologies Ltd	16.00	8.71	15.88	24.77	0.46
MosChip Technologies Ltd	8.79	7.16	10.20	11.22	0.00
MIC Electronics Ltd	18.65	10.37	4.41	7.49	0.20

Read Also: Best Small Cap Semiconductor Stocks in India

Why Invest in Semiconductor Stocks in India?

You should consider investing in semiconductor stocks due to the reasons given below:

• Growing demand and future prospects : The demand for electric vehicles, 5G networks, artificial intelligence and smart gadgets is growing rapidly in India. The need for chips is the highest in all these sectors. This is the reason why the growth of semiconductor stocks in India will get strong support in the coming years.
• Support from government policies : The government has announced PLI and DLI incentives of ₹76,000 crore so far under the “India Semiconductor Mission”, of which about ₹65,000 crore has been committed. In addition, semiconductor fab, OSAT, and 3D packaging projects have been approved in January–August 2025, with a total investment of about ₹1.6 trillion (US$18.2 billion).
• Possibility of attractive returns : Since India’s semiconductor industry is still in its early stages, investors who invest for the long term by choosing the right companies can get better returns. Early investors can take full advantage of this growth.
• Global supply chain opportunity : The world is looking for alternative suppliers to reduce excessive dependence on China and Taiwan. India is in a position to fill this void. This can help Indian semiconductor companies benefit from global orders and partnerships.
• Backbone of the technology sector : The expansion of new technologies like AI, EV, 5G and IoT is directly linked to the semiconductor industry. That is, with the growth of these trends, the value of Indian semiconductor stocks will become even stronger.

Factors to Consider Before Investing in Semiconductor Stocks

Some of the factors that you should consider before investing in semiconductor stocks is given below:

• Company position and role in the value chain : It is important to understand where the company operates in the semiconductor value chain whether it is active in design (IP), packaging and testing (OSAT/ATMP), or materials and equipment. This gives an idea of ​​its business model and growth potential.
• Customer base and certifications : Before investing in any semiconductor stocks India, it is important to see who its customers are. If the company has certifications related to the auto or industrial sector (such as AEC-Q100, ISO) and long-term contracts, it means that its business is stable and reliable.
• Financial strength : Pay attention to the company’s balance sheet and financial performance. Good return on capital employed (ROCE), healthy margins and low debt levels indicate that the company can earn profits over a long period of time.
• Policy support and capex visibility : The government in India is taking steps like Production-Linked Incentive (PLI) and “India Semiconductor Mission” to promote the semiconductor industry. It is important to see whether the company is taking advantage of these schemes or not, and how clearly and planned its capex is being done.
• Valuation and investment level : While investing in any of the best semiconductor stocks, one should see whether the current pricing is fair or too expensive. Early-stage companies are valued on the basis of EV/Sales, while EV/EBITDA and P/E ratios are more appropriate for mature companies.

Read Also: Semiconductor Penny Stocks in India with Price List

Risks of Investing in Semiconductor Stocks

Risks of investing in semiconductor stocks are given below:

• Policy delays and dependence on subsidies : The Indian government has launched large-scale PLI and incentive schemes for the semiconductor industry. But sometimes there are delays in the implementation of these schemes or obstacles in releasing funds. If a company’s business model is based only on government support, it can increase the risk for investors.
• Cyclical nature of global demand : The semiconductor industry is completely dependent on the demand and supply cycle. When the demand for electronic devices decreases globally, it directly affects chip manufacturing and related companies. Therefore, semiconductor stocks in India are also not able to escape this fluctuation.

• Capex-heavy business and execution risk : Semiconductor manufacturing requires billions of rupees of investment and a long time. Many times companies announce projects but are unable to complete them on time. In such cases, investors’ money can be stuck for a long time.
• Governance and management challenges : Small and medium-sized companies often face problems such as lack of transparency, neglect of shareholder interests or misplaced management priorities. Such governance issues can pose risks for investors.

• Liquidity and market risk : Many semiconductor companies in India are still relatively small and their shares have low trading volumes. This means that investors cannot easily convert their investments into cash, especially when the market is in a downtrend.

Read Also: Semiconductor Industry in India

Conclusion

India’s semiconductor sector is still in its early stages, but its pace seems to be increasing. With strong government support, rising domestic demand, and adoption of new technologies, the industry is poised to become significant. The best way for investors is not to rely only on announcements, but to see what companies are doing on the ground. Semiconductor stocks in India selected with a little patience and proper research can help strengthen your portfolio in the coming times. It is advised to consult a financial advisor before investing in semiconductor stocks.

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