Bartronics Ltd shares hit the 5% upper circuit on Wednesday, 8 January, after the company announced signing a Memorandum of Understanding (MoU) with PTW Group for establishing a semiconductor unit in India. 

In its regulatory filing, the company said, “The proposed merger of PTW and Bartronics aims to establish production, refurbishing, and training facilities in India to meet the growing demands of the semiconductor industry. Additionally, it will support R&D, manufacturing, workforce training, and international collaborations, aligning with India’s goal of becoming a global semiconductor hub.”

The company added that the new facilities are planned to help establish new fabs in India, offering training programs on semiconductor production, processes and equipment, and establishing local production and refurbishment of Semicon equipment. 

The signing of the MoU happened in Hyderabad after a meeting with Telangana’s Minister of Information and Technology, Sridhar Babu Duddilla. 

The minister said that the Singapore-based firm had shown their willingness to invest Rs 1,000 crore in Telangana’s upcoming Fourth City, proving that the city has an abundant source of skilled talent pool, which is essential for semiconductor manufacturing along with an ecosystem that boasts the industry to flourish. 

The company was founded in 1990 and provides IT services based on biometrics, barcodes and more.

At 3:23 pm, the shares of Bartronics were trading 1.57% higher at Rs 23.94 on NSE.

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