Semiconductor stock hits 10% upper circuit after receiving work order worth ₹ 568 Cr from CDAC – Trade Brains
by | Jun 3, 2024 | 11:23 am | News, Trending News | 0 comments
Semiconductor stock specializing in product design and development services ranging from chip design to Software and Systems Development hits a 10 percent upper circuit upon receiving a work order worth Rs. 568 Crores for the supply of high-performance chips.
With a market capitalization of Rs. 2,681 Crores, the shares of Moschip Technologies Limited hit a 10 percent upper circuit in the day’s trade at Rs. 142.20, from its previous day’s close price of Rs. 129.30.
Moschip Technologies Limited has secured a new work order Worth Rs. 568 Crores from the Centre for Development of Advanced Computing (CDAC), involving the design, development, and delivery of a high-performance computing (HPC) SoC (System on a Chip) using its state-of-the-art 5nm nanometer technology. The work order is expected to be executed in 3 years and also provide support and maintenance for 1 year.
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The successful development of this 5nm chip is expected to attract considerable interest from major industries worldwide, looking for turnkey ASIC solutions that meet the highest standards of performance and efficiency.
This project not only strengthens MosChip’s position in the global market but also opens new avenues in both domestic and international markets for Turnkey Application Specific Integrated Circuit (ASIC) solution. It also aims to propel India to the forefront of semiconductor innovation, substantially enhancing the country’s prowess in advanced high-performance computing and microelectronics.
Srinivasa Rao Kakumanu, MD & CEO of MosChip Technologies Limited said, “The award of this prestigious project is a testimony to the competencies of MosChip and this will also enhance the company’s capabilities in the Semiconductor space making it a niche solution provider.
It has also come at a time when India is focusing on developing core strengths in the Semiconductor space to become a powerhouse for the global market. ‘The Team MosChip’ is well positioned to become a key contributor in India’s Semiconductor story,”
Moschip Technologies Limited is a semiconductor and system design company. It specializes in product design and development services ranging from chip design to Software and Systems Development.
Its Revenue from Operations grew by 40.11 percent from Rs. 53.83 Crores in Q4FY23 to Rs. 75.42 Crores in Q4FY24, accompanied by profits of Rs. 1.52 Crores to Rs. 87 Lakhs.
Written by: Bharath K.S
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