Multibagger semiconductor stock delivers 120% returns in a month; Check the factors here – Trade Brains
by | Jun 26, 2024 | 9:36 am | News, Trending News | 0 comments
The Indian semiconductor market, currently valued at around $23.2 billion, is anticipated to expand significantly to $80.3 billion by 2028. This growth reflects a robust compound annual growth rate (CAGR) of 17.10%.
The Ministry of Electronics and IT (MeitY) is significantly boosting semiconductor R&D in India with a $10 billion investment through the India Semiconductor Mission (ISM). To support domestic manufacturing, provide incentives, and aid Fabless startups under schemes like Design Linked Incentive (DLI).
Moreover, the government has introduced additional schemes like Chips to Startup (C2S) and Scheme for Promotion of Electronic Components and Semiconductors (SPECS) to further bolster the semiconductor industry’s growth and innovation in India.
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Moschip Technologies Ltd has emerged as a prominent figure in the semiconductor industry, achieving a remarkable 120% increase in its shares over the past month. This impressive surge is attributed to strategic partnerships, recent orders, and support from government initiatives, propelling the stock to unprecedented levels.
On Wednesday, On the Bombay stock exchange, Moschip Technologies Ltd shares were trading at Rs 299.40 per share, up 0.52 percent from the previous close price. The company has a market capitalization of Rs 5,682 crore.
About the company: Moschip Technologies Ltd is a semiconductor and system design firm that specializes in Turnkey ASICs, Mixed Signal IP, semiconductor & product engineering, and Internet of Things (IoT) solutions for aerospace & military, consumer electronics, automotive, medical, and networking & telecommunications.
Partnerships: In addition, MosChip has established strategic alliances with leading foundries such as TSMC, UMC, Global Foundries, and Tower Jazz. These partnerships enable MosChip to leverage cutting-edge technologies and advanced manufacturing processes, reinforcing its leadership in the semiconductor industry.
Government Push: Recently in June 2024, MosChip Technologies Limited secured approval for its application under the Design Linked Incentive (DLI) scheme from the Ministry of Electronics and Information Technology (MeitY).
This endorsement bolsters MosChip’s advancement in developing an intelligent energy meter integrated circuit (IC) tailored for both domestic and international markets.
The DLI scheme offers financial incentives and infrastructure support over five years, for Moschip reimbursing firms upon achieving specific developmental milestones. This initiative aligns with the Government of India’s initiative to foster self-reliance (Atmanirbhar Bharat) in the semiconductor sector.
Contracts: In the first week of June, the company secured a significant contract valued at Rs 509.37 crore from the Centre for Development of Advanced Computing (CDAC). This contract covers a span of four years and includes provisions for support and maintenance.
Additionally, Moschip collaborated with Tenstorrent to enhance its capabilities in RISC-V core development, aiming to advance AI hardware and solutions. Together, to bring extensive expertise in design services.
Financials:The company’s revenue has increased by 40 percent year on year, from Rs 53.83 crore in Q4FY23 to Rs 75.42 crore in Q4FY24. During the same period, Net profit decreased by 43 percent from Rs 1.52 crore to Rs 0.87 crore.
Moschip Technologies shares have delivered a return of 204 percent in the previous six months, and a return of 282 percent in a year.
Shareholding pattern: According to the latest shareholding pattern, The company promoters hold 47.32 percent stake, while retail investors hold 49.76 percent stake.
Written by Omkar Chitnis
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