ASM Technologies’ share price was up by 5% on Thursday and is locked in Uppercircuit. This stock has more than doubled investors’s money in less than 2 months.
ASM Technologies announced that they will be raising 170 crores by selling shares and warrants. This fundraising was led by well-known investor Mukul Agarwal, which gave a green signal to other investors to buy the stock. It assures investors that someone with more experience in the market believes in the company.
ASM Technologies Future Plans
ASM is planning big for the future; they are aiming to become a leader in design-led manufacturing, focusing on semiconductors and automotive. With the rising demand for semiconductors in India, it’s a good sign to start manufacturing them in India, especially when most of the semiconductors in the Indian market are imported.
The money raised will be used for various purposes. Purposes like funding takeovers or acquisitions of other companies in the market of their field and investing in new ideas and the growth of their company
Rabindra Srikantan, managing director of ASM Technologies, is excited about this funding and is planning great things for the company. He says it is a turning point for the company, which will help it grow, innovate, and introduce new things to the company in the years to come.
The share price of ASM TECHNOLOGIES, along with other players in this market, is influenced by the success of NVIDIA, which is a huge player in the artificial intelligence chips market, NVIDIA’s share pricing is constantly rising, which is giving a boost to the semiconductor industry overall.
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