Sumitomo Chemical shares soar 11%, record biggest single-day surge in nearly 2 years. Here’s why

Sumitomo Chemical India shares surged 11% to Rs 488.65 on the NSE, marking the biggest single-day gain in nearly two years. The rally was triggered by its Japanese parent Sumitomo Chemical's Korean subsidiary Dongwoo Fine-Chem signing a joint venture with Samsung Electro-Mechanics to manufacture glass core substrates for next-generation AI semiconductor packages. The new venture, with a share capital of about KRW 482,100 million, is targeted to establish a supply system by the second half of fiscal year 2027.