4,500 per cent Multibagger Returns: Semiconductor Stock Hits 52-Week High and Upper Circuit – Company Recently Announces Inauguration of New Silicon Carbide-Based Semiconductor Manufacturing Facility
The company’s shares have delivered a multibagger return of over 290 per cent in just 1 year.
Today, Prime Minister Narendra Modi inaugurated SEMICON India 2024 at the India Exposition Mart Ltd in Greater Noida, highlighting India's swift ascent as a global semiconductor hub. The event, organized by SEMI in partnership with Messe Munchen India, the Ministry of Electronics & Information Technology (MeitY), the India Semiconductor Mission (ISM), and Digital India, convenes global semiconductor industry leaders to discuss pressing issues such as talent shortages, supply chain redesign, and sustainability. Following this, the semiconductor stocks were in focus today including RIR Power Electronics Limited. The company's shares hit the upper circuit as well as 52-week high today.
RIR Power Electronics Limited a Small-Cap company has recently announced the inauguration of its new Silicon Carbide-Based Semiconductor Manufacturing Facility in Odisha. The official ceremony will be held on Friday, September 6, 2024, at 11:30 AM at the Flatted Factory Building, EMC Park, Infovalley, Khurdha, Bhubaneshwar, Odisha. The event will feature Shri. Mohan Charan Manjhi, Honourable Chief Minister of Odisha, as the Chief Guest. This new facility represents a significant advancement in the company's Silicon Carbide-based technology capabilities.
Furthermore, it has strategically expanded into high-growth sectors such as Railways, Defence, Clean Energy, Hydrocarbon, and Mining. This move marks a significant milestone in the company's growth strategy and commitment to innovation.
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RIR Power Electronics Limited is engaged in designing and manufacturing advanced power electronics solutions, focusing on innovation and energy efficiency. The company offers a wide range of products, including semiconductor devices, power converters, inverters, and energy management systems, catering to industrial, commercial, and residential sectors. RIR remains at the forefront of the power electronics industry, driving progress and sustainability in modern energy systems.
Today, the shares of RIR Power Electronics rallied and hit the 52-week high and upper circuit and finally closed at Rs 2852.60 each on the BSE. Additionally, the shares have delivered a multibagger return of over 290 per cent in 1 year.
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Disclaimer: The article is for informational purposes only and not investment advice.