The buzz around semiconductor stocks is real, and with the advent of 5G technology, EVs, and the growing market for smart gadgets, semiconductors are driving a global technological revolution.
In 2024, the semiconductor industry in India is valued at $39.5 billion. Recording a phenomenal CAGR of 16.86%, the sector is projected to reach $100.2 billion by 2032.
Thanks to government initiatives like the India Semiconductor Mission (ISM) and Production Linked Incentive (PLI) schemes, the domestic manufacturing industry is set for rapid growth.
In this blog, we have curated a list of the best semiconductor stocks to watch.
5 Best Semi-Conductor Stocks for Investors
As semiconductor companies in India are set to grow, take a look at some of the best stocks to buy now in this sector.
| Stock | CMP (In Rupees) | Market Cap (in Rs Crore) |
| BEL (Bharat Electronics) | 302.50 | 227,041 |
| Havells | 1692.80 | 110,893 |
| Tata Elxsi | 7230.35 | 45,301 |
| CG Power & Industrial Solutions | 765.25 | 115,405 |
| Dixon Technologies | 18,893.80 | I113,124 |
- Bharat Electronics Limited
Bharat Electronics Limited (BEL), a Navratna company under the Ministry of Defence, is a leader in futuristic defense electronics and communication solutions. It is known for its sophisticated products like radars, electronic warfare systems, and naval systems.
BEL has entered MoUs with AAI, UAS, IISC, and Delhi Metro in recent months. This opens up fresh opportunities for more orders, paving the way to growth. In FY24, it introduced 40 new products. Currently, the order book or BEL is INR 750 billion.
BEL is also involved in developing and supplying advanced electronic products as a part of India’s ‘Atmanirbhar Bharat’ and ‘Make in India’ initiatives. All these prospects make it a top choice for investors looking for semiconductor stocks.
- Havells India Limited
As a leading FMCG company, besides emerging as a key player in power distribution equipment manufacturing. The company has a diverse portfolio of products, including circuit protection devices, switches, fans, home appliances, and cables.
Havells has also diversified into semiconductor components for applications like smart homes and automation. The robust infrastructure and focus on energy-efficient technology make it an attractive pick for long-term investors.
Havells India has made significant strides in the semiconductor sector. The company has entered strategic partnerships and investments, focussing on the development of advanced semiconductor components for different applications. With a strong emphasis on R&D and sophisticated technologies, Havells India is positioned to be a key player in the evolving semiconductor market.
- Tata Elxsi
Tata Elxsi is a pioneer in design and technology services and the company has carved a niche in industries like semiconductors, automotive, healthcare, broadcast, and communications. The company deploys advanced technologies like IoT, AI, virtual reality, and cloud computing to empower its clients to innovate and enhance their offerings. Tata Elxsi has emerged as a trusted partner in the global market.
The company has demonstrated remarkable growth in the semiconductor space. Collaborations like its MoU with Nidec for advanced R&D and its selection of Wind River Studio Developer for software-defined vehicle projects demonstrate its growth potential.
Tata Elxsi has also made significant expansions, such as the UK’s West Midlands hub and the Mobility Innovation Centre in Bengaluru. These recent activities define its commitment to driving futuristic technologies, positioning it as a top choice for investors looking to capitalize on the booming semiconductor sector.
- CG Power and Industrial Solutions Ltd
CG Power and Industrial Solutions has a presence in different fields like power generation, transmission, and distribution equipment.
CG Power and Industrial Solutions Ltd, founded in 1937, is a prominent Indian company specializing in power generation, transmission, and distribution equipment. It is known for its superior transformers, switchgear, and power conversion products.
Of late, CG Power has been developing advanced transformer technologies for semiconductor manufacturing to improve energy efficiency and reduce costs. Its strategic partnerships with global semiconductor companies further put it on the growth trajectory.
The innovation and expertise of CG Power and Industrial Solutions make it one of the popular semiconductor stocks to invest in 2025.
- Dixon Technologies (India) Ltd
The Q2 FY25 performance of Dixon Technologies looks robust, with a 133% growth in revenue. Additionally, the company is growing its influence in the semiconductor value chain consistently, which makes it one of the top stocks in this sector to watch.
Dixon is well-poised to meet global quality standards while scaling its operations efficiently in 2025 and beyond.
Conclusion
The semiconductor industry in India offers tremendous growth potential, backed by technological demand and government support. Now that you know the top semiconductor stocks to include in your portfolio, you can ride the growth trajectory in the coming years.
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