New Delhi, Aug. 7 -- RIR Power Electronics share price jumped over 4% on Thursday despite the broader weakness in the Indian stock market. The small-cap sock rallied as much as 4.77% to Rs.225.15 apiece on the BSE.

The surge in RIR Power Electronics share price came after the company announced that the government of Odisha approved fiscal support for Phase 1 of the company's Silicon Carbide (SiC) semiconductor plant in Bhubaneswar.

"The Electronics & Information Technology Department, Government of Odisha, has approved fiscal support for Phase 1 for RIR Power Electronics Limited towards its Silicon Carbide (SiC) semiconductor manufacturing facility in Odisha," RIR Power Electronics said in a regulatory filing.

Odisha Computer Applicati...