Top Semiconductor Stocks In 2024: In the dynamic world of the stock market, companies continuously offer their stocks to the public, welcoming shareholders who invest in their vision.
This influx of funding through stock marketing plays a crucial role in developing and renovating company infrastructure, driving growth and innovation in various sectors.
As companies evolve and expand, so do their stock prices, offering lucrative benefits to their shareholders. In this article, we’ll delve into the top semiconductor stocks in India for 2024, highlighting essential facts and insights for investors looking to navigate this exciting market segment.
Stay tuned as we explore the growth potential, market dynamics, and investment opportunities within India’s semiconductor industry, shedding light on the companies poised to make significant strides in the coming years.
Top Semiconductor Stocks In 2024 Lists
The “Top Semiconductor Stocks In 2024 Lists” feature prominent Indian semiconductor companies poised for growth:
- Tata Elxsi (Rs. 7,649)
- MIC Electronics (Rs. 39.90)
- Dixon Technology (Rs. 7,243.30)
- Surana Telecom (Rs. 15.75)
- Bharat Heavy Electricals Limited (BHEL) (Rs. 239.85)
- Bharat Electronics (Rs. 199.50)
- HCL Technologies (Rs. 1,563.00)
- Vedanta (Rs. 267.90)
| STOCKS | CMP |
|---|---|
| TATA ELXSI | Rs. 7,649 |
| MIC ELECTRONICS | Rs. 38 |
| DIXON TECHNOLOGY | Rs. 6,258 |
| SURANA TELECOM | Rs. 17 |
| BHEL | Rs. 228 |
| BHARAT ELECTRONICS | Rs. 180 |
| HCL TECHNOLOGIES | Rs. 1,624 |
| VEDANTA | Rs. 274 |
TATA ELXSI
Tata Elxsi, founded in March 1989 in Bengaluru, specializes in developing and promoting software applications, embedded systems, and design technologies. The company serves various sectors such as automotive, broadcast, and more.
Tata Elxsi, a Tata Group company, leads in design and technology services for industries like automotive, broadcast, and more.
They offer design, engineering, and cutting-edge tech solutions across sectors. Known for innovation, they leverage technologies like IoT and AI.
Their recent Q3 profit rise and strong ROA signal financial health, with the stock price potentially trending upwards.
They’ve expanded with a new design center and collaborations, solidifying their position in the growing design and engineering services market. It is one of the Top Semiconductor Stocks In 2024
| Current Share Price(March, 26) | 7,646.00 INR |
| Mkt cap | 47.62TCr |
| P/E ratio | 59.75 |
| 52-wk high | 9,200.00 |
| 52-wk Low | 5,882.55 |
MIC ELECTRONICS
Established on May 17, 1988, MIC Electronics is an esteemed Indian company renowned for its LED Flex Boards, cutting-edge display solutions, and a comprehensive range of indoor and outdoor LED products.
MIC Electronics, possibly an electronics company, boasts impressive growth. Its share price sits at ₹41.87, reflecting a staggering 246% rise over the past year. However, recent volatility has seen a 14% dip in the last month.
Looking at its performance, MIC Electronics shines. It boasts high revenue and profit growth. Yet, some red flags emerge.
The company struggles with negative cash flow and a high P/E ratio, which might indicate the stock is currently overvalued and It is one of the Top Semiconductor Stocks In 2024.
| Current Share Price(March, 26) | 39.90 INR |
| Mkt cap | 885.79Cr |
| P/E ratio | 75.83 |
| 52-wk high | 53.65 |
| 52-wk Low | 11.55 |
DIXON TECHNOLOGY
Dixon Technologies, an Indian private company established in 1993, specializes in electronic manufacturing services and produces a wide array of consumer electronics, including color televisions, washing machines, and various other products.
Dixon Technologies (DIXON) has been on a tear in the stock market, particularly over the past year. Its current price sits at ₹7,242.55, reflecting a staggering 148% increase in the last year.
Recent trends show continued momentum, with gains of over 5% in the last month and 10% in the last quarter.
However, remember that past performance doesn’t guarantee future results before jumping in. DIXON has a strong track record, with impressive growth over 3 and 5-year periods.
However the stock market is volatile, and Dixon’s price could fluctuate. It is one of the Top Semiconductor Stocks In 2024.
| Current Share Price(March, 26) | 7,243.30 INR |
| Mkt cap | 43.35TCr |
| P/E ratio | 120.72 |
| 52-wk high | 7,286.35 |
| 52-wk Low | 2,754.05 |
SURANA TELECOM
Surana Telecom and Power Limited, an Indian private sector entity established on August 14, 1989, is a prominent manufacturer of electronic telecom jointing kits, petroleum jelly, and a range of other innovative products.
Surana Telecom and Power Limited (SURANAT&P) is an Indian company with its fingers in a few pies.
They focus on manufacturing products for the telecommunications sector but have also branched out into renewable energy generation.
Their telecom offerings include heat-shrinkable jointing kits, cables, and connectors. They also manufacture solar photovoltaic modules and operate wind power plants.
While SURANAT&P’s stock price is currently ₹41.87, it’s important to note some recent volatility. The stock has dipped 14% in the last month, despite significant growth over the past year (+246%).
Looking deeper, the company boasts strong revenue and profit growth, but also carries the burden of negative cash flow. The high P/E ratio suggests the stock might be overvalued and It is one of the Top Semiconductor Stocks In 2024.
| Current Share Price(March, 26) | 15.75 INR |
| Mkt cap | 213.65Cr |
| P/E ratio | N/A |
| 52-wk high | 20.95 |
| 52-wk Low | 7.60 |
BHEL
Bharat Heavy Electricals Limited (BHEL) is an Indian public sector unit established on November 13, 1964. The company is renowned for its expertise in manufacturing, developing, and producing power equipment.
As of today, March 26, 2024, 3:30 PM IST, BHEL’s share price is ₹239.75 on the NSE. This is a slight increase of 0.27% from the day’s opening price.
BHEL’s share price has seen some volatility. Over the past month, it has remained relatively flat.
However, in the last 3 months, there’s been a positive uptick of 3.39%. Looking at a broader timeframe, the share price has grown over 19% in the past 6 months but remains down by nearly 12% compared to a year ago.
BHEL’s share price has fluctuated between ₹67.60 (52-week low) and ₹275.85 (52-week high) over the past year. It is one of the Top Semiconductor Stocks In 2024.
| Current Share Price(March, 26) | 239.85 INR |
| Mkt cap | 83.52TCr |
| P/E ratio | N/A |
| 52-wk high | 275.85 |
| 52-wk Low | 67.60 |
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BHARAT ELECTRONICS
“Bharat Electronics Limited, a prominent Indian Government Navratna Company and Public Sector Unit, was founded in 1954 in Bengaluru. It specializes in the design, development, manufacturing, and supply of electrical products and systems, catering to diverse needs across various sectors.
Bharat Electronics Limited (BEL), a cornerstone of India’s defense electronics sector, offers investors a compelling mix of stability and growth.
Listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), BEL manufactures critical equipment for the Indian military, including radars, communication systems, and electronic warfare suites.
This dominant position within the domestic defense market translates to consistent government contracts and a steady revenue stream.
BEL’s share price reflects this positive outlook. Over the past year, the stock has witnessed impressive growth exceeding 112%. This upward trend is likely to continue as India prioritizes bolstering its defense capabilities.
However, potential investors should be mindful of the cyclical nature of the defense industry, where fluctuations in government spending can impact profitability. It is one of the Top Semiconductor Stocks In 2024.
| Current Share Price(March, 26) | 199.50 INR |
| Mkt cap | 1.46LCr |
| P/E ratio | 40.84 |
| 52-wk high | 216.80 |
| 52-wk Low | 89.90 |
HCL TECHNOLOGIES
HCL Technologies Limited is a leading Indian private sector company founded on November 12, 1999. Headquartered in Noida, Uttar Pradesh, the company specializes in providing software services and IT-related solutions.
HCL Technologies trades on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) under the symbol “HCLTECH.”
As of March 26, 2024, the share price sits at ₹1557.85. While there’s been a recent dip of 2.3%, the stock boasts impressive long-term growth, showcasing significant gains over the past year.
| Current Share Price(March, 26) | 1,563.00 INR |
| Mkt cap | 4.23LCr |
| P/E ratio | 27.01 |
| 52-wk high | 1,697.35 |
| 52-wk Low | 1,016.25 |
VEDANTA
Vedanta Limited, a prominent Indian private sector entity, was established on June 25, 1965, in Mumbai.
The company operates in various sectors, primarily focusing on natural resources such as aluminum, zinc, lead, silver, oil and gas, iron ore, steel, copper, power, ferroalloys, nickel, semiconductors, and glass.
Vedanta Ltd (VEDL) is a major Indian mining and metals company, dealing in zinc, lead, silver, iron ore, aluminum, and copper, and even has a stake in oil and gas.
As of March 26, 2024, VEDL’s share price on the NSE is ₹267.90, experiencing a slight dip today. While the monthly performance is flat, VEDL has gained over 20% in the last 6 months.
However, looking at the yearly trend, the share price is down nearly 6%. It’s currently trading within a range of ₹208 and ₹301 per share.
| Current Share Price(March, 26) | 267.90 INR |
| Mkt cap | 99.74TCr |
| P/E ratio | 21.15 |
| 52-wk high | 300.95 |
| 52-wk Low | 208.00 |
Conclusion:
In 2024, India’s semiconductor industry presents diverse investment opportunities. Key players like Tata Elxsi and HCL Technologies exhibit steady growth,
while companies like MIC Electronics and Dixon Technology show volatility despite strong performance.
Investors should carefully consider each stock’s financial health and market dynamics before making decisions.
