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    2317   TW0002317005

HON HAI PRECISION INDUSTRY CO., LTD.

(2317)
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End-of-day quote Taiwan Stock Exchange  -  2022-12-01
105.50 TWD   +2.43%
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India expects at least $25 bln investment under semiconductor incentive scheme

09/21/2022 | 07:17am EST

NEW DELHI, Sept 21 (Reuters) - India is expecting to court a total investment of at least $25 billion as a result of its incentive scheme meant to boost local manufacturing of chip and display panels, junior IT minister Rajeev Chandrasekhar told reporters on Wednesday.

His comments came hours after the Indian government raised fiscal support for new semiconductor facilities to cover 50% of project costs, and said it will remove a ceiling for maximum permitted investment to enable incentives for display manufacturing.

Prime Minister Narendra Modi's government is seeking to attract more big-ticket investments under a $10 billion incentive plan for chip and display production, aiming to make India a key player in the global supply chain.

The government had previously agreed to cover between 30% and 50% of the cost of setting up new display and chip plants. It said on Wednesday that it will also cover 50% of the capital expenditure required to set up semiconductor packaging facilities.

Chandrasekhar said the government is in conversations with many of the global players to invest in India's chip sector, without naming any.

"These conversations are happening in the context of multiple incentive packages and programs that have been announced by various countries," Chandrasekhar said.

"Our proposition is ... we have a proven track record of growing the electronics industry. And we also come along with the basic infrastructure requirement to set up manufacturing," he added.

Last week, oil-to-metals conglomerate Vedanta and Taiwan's Foxconn signed a pact with India's Gujarat to invest $19.5 billion in the western state to set up semiconductor and display production plants.

Vedanta is the third company to announce a chip plant location in India after international consortium ISMC and Singapore-based IGSS Ventures, which are setting up in the southern states Karnataka and Tamil Nadu respectively. (Reporting by Munsif Vengattil in New Delhi; Editing by Louise Heavens, Jan Harvey and Jonathan Oatis)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRENT OIL -1.49% 85.9 Delayed Quote.11.95%
FOXCONN TECHNOLOGY CO., LTD. 4.05% 54 End-of-day quote.-16.80%
HON HAI PRECISION INDUSTRY CO., LTD. 2.43% 105.5 End-of-day quote.1.44%
VEDANTA LIMITED 1.16% 313.85 Delayed Quote.-8.02%
WTI -1.34% 80.208 Delayed Quote.6.45%
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Financials
Sales 2022 6 559 B 214 B 214 B
Net income 2022 143 B 4 656 M 4 656 M
Net cash 2022 273 B 8 909 M 8 909 M
P/E ratio 2022 10,3x
Yield 2022 4,97%
Capitalization 1 462 B 47 770 M 47 770 M
EV / Sales 2022 0,18x
EV / Sales 2023 0,17x
Nbr of Employees 826 608
Free-Float 87,4%
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Number of Analysts 16
Last Close Price 105,50 TWD
Average target price 132,38 TWD
Spread / Average Target 25,5%
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Managers and Directors
Yang-wei Liu Chairman & Chief Executive Officer
Te Tsai Huang Head-Finance & Deputy Spokesman
Tsing Yuan Hwang Independent Director
Kuo Cheng Wang Independent Director
Kuo Chuan Kung Independent Director