Best semiconductor stocks in India to watch in 2026
As a young investor, you may consider keeping these semiconductor stocks in India 2026 on your watchlist. As the semiconductor industry in India gradually shapes up, these picks may deliver impressive long-term returns.
The table below summarises these stocks in terms of their market capitalisation.
HCL Technologies
HCL Technologies is not making chips.
It’s producing something semiconductor companies desperately need. Engineering, software, testing, and AI-based automation.
In FY26, HCL Tech reported revenue of ₹1,30,144 crore, recording a 11.2% Y-o-Y rise. Its EBIT stood at ₹22,397 crore, which represented 17.2% of its revenue.
Interestingly, HCL Technologies is a large, profitable company carrying deep engineering capability.
The numbers relevant to the semiconductor sector are also worth noting. The company reported annualised Advanced AI revenue of $620 million. In terms of new deal wins, the total contract value was $9.3 billion.
No wonder next-generation technology work is a growing part of the mix. Across the world, semiconductor companies need support for chip design, embedded systems engineering, product validation, and AI-based process automation.
That’s exactly what HCL Tech has been catering to, which makes it so relevant in the semiconductor industry.
Bharat Electronics Ltd
You may not have realised, but semiconductors and defence electronics are deeply connected. Think about radar systems, communication hardware, secure embedded chips, and sensing modules.
Behind all these, there’s semiconductor technology, and BEL builds them. BEL works on systems where chips, communication modules, and secure electronics are core inputs.
In the narrow sense, Bharat Electronics is not a chip company. It’s one of the most important electronics manufacturing and systems integration businesses of India. That’s the distinction that matters for this list.
Interestingly, BEL registered a record turnover of ₹26,750 crore in FY26, up by 16.2% against the turnover in the previous financial year.
This growth trajectory in 2026 clearly shows strong execution and a growing order pipeline. The demand for high-value defence and strategic electronics is not slowing down any time soon. No wonder it’s one of the top semiconductor stocks in India 2026 to watch out for.
As India pushes toward self-reliance in hardware, particularly in defence and strategic sectors, BEL continues to ride its growth trajectory. Long-term investors eyeing technology-oriented growth may consider including BEL in their portfolios.
Vedanta
Vedanta’s position in the Indian semiconductor industry is based on its ambitions as much as its current operations.
In fact, Vedanta was among the first large Indian groups that publicly showed their intent to venture into chip and display manufacturing. For a country like India that historically imported almost all of its semiconductors, this made a difference.
Vedanta has also entered a partnership with the Taiwanese company Foxconn, as it enters the semiconductor manufacturing business. It has planned a massive investment of $20 billion in two separate units. One project involves chip manufacturing, while the other is about display manufacturing. Once these units are completed, India will get the first of their kind.
As a large, diversified industrial group, Vedanta carries the scale and appetite to participate in strategic manufacturing projects.
ABB India
Every semiconductor fabrication plant needs power. Along with that, automation systems, robotics, and electrical infrastructure are essential. That is where ABB India comes in.
It’s an industrial automation and electrification business. Before a single chip is manufactured, ABB India becomes relevant.
In 2026, ABB announced a $75 million investment in India to expand its manufacturing and R&D facilities. It’s likely to generate 300 jobs, too.
This development shows confidence in the industrial manufacturing trajectory of India. It comes at a time when semiconductor-linked capex is also growing.
Cleanroom facilities, high-spec electronics plants, and precision manufacturing infrastructure depend on the automation and power systems ABB provides.
With the semiconductor and electronics manufacturing base of India expanding, the market for ABB continues to grow.
Polycab India
Polycab is India's largest wires and cables company. But how’s that related to semiconductors in any way?
Think about what every electronics and semiconductor facility actually needs to function. Power distribution, factory wiring, industrial connectivity, and reliable electrical infrastructure.
These are not optional for any chip plant or electronics manufacturing facility. They are foundational. Polycab India is one of the most established names at that foundational stage.
As India continues to build more electronics plants and high-spec industrial facilities to boost the semiconductor industry, capex-linked demand for electrical products grows along with it.
While it’s not directly a semiconductor company, the supporting infrastructure and electrical products it supplies expose it to the growth trajectory. As broader industrialisation and semiconductor manufacturing accelerate, the company is set to benefit in the long run.
If you’re looking to invest in semiconductor stocks in India 2026 with indirect exposure to electronics manufacturing, Polycab can be considered.
Also Read: https://millionshq.com/blog/mutual-funds/top-5-artificial-intelligence-stocks-in-india-2026/
Conclusion
India’s semiconductor growth is rapidly influencing other industries. The developments are shaping up faster than most people track.
The semiconductor stocks in India 2026 that we discussed in this guide are already attracting investments. However, do your research before you invest.
