Interarch Building shares rally 4% on bagging Rs 221 crore orders from Tata Projects

Synopsis

Interarch Building Products shares surged 3.7% on January 13 after securing Rs 221 crore worth of projects from Tata Projects in the semiconductor and lithium-ion battery sectors. These projects, located in Assam and Gujarat, align with India’s push for enhanced domestic manufacturing. The company aims to support India's tech and sustainable energy goals, reinforcing its market position.

Shares of Interarch Building Products rallied 3.7% on Monday, January 13, to their day’s high of Rs 1,613.40 on the BSE after the company received two projects totaling Rs 221 crore from Tata Projects in the semiconductor and lithium-ion battery sector.

“We are pleased to inform you that the Interarch secures INR 221 Crore orders in the Revolutionary Semiconductor & Lithium-Ion Battery Sector, from Tata Projects Limited, Transforming India’s Tech Landscape,” the company announced in its press release.

The first order is for Tata Semiconductor Assembly & Testing Pvt Limited, for their semiconductor manufacturing facility in Jagiroad, Morigaon, Assam. This project is part of India’s expanding semiconductor ecosystem and aligns with the government's push to enhance domestic electronics manufacturing.

The second order is for Agratas Energy Storage Solutions Pvt. Ltd. to build India’s largest lithium-ion battery manufacturing unit in Sanand, Gujarat. This facility will serve the growing energy storage market and support India’s shift towards sustainable energy solutions. This marks Interarch's second lithium-ion battery manufacturing order, following their work with Exide Energy Solutions.

Tata Projects Limited is the EPC contractor for both projects.

Commenting on the development, Mr. Arvind Nanda, Managing Director of Interarch Building Products Ltd., stated: "We are honored to partner with Tata Projects Limited on these groundbreaking initiatives. The semiconductor and energy storage sectors are crucial to India’s economic and technological future. Our versatile and industry-agnostic infrastructure solutions ensure efficiency, reliability, and sustainability in every project. These partnerships reinforce our commitment to fostering innovation and growth in emerging industries."

On Friday, the company's shares fell nearly 8% to settle at Rs 1,555. According to Trendlyne, the stock price rose 72.72% and outperformed its sector by 57.87% in the past year.

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