Shares of this smallcap company jumped around 14 percent in Thursday’s trading session after partnering with Tenstorrent to advance RISC-V solutions. The shares have delivered around 50 percent returns to its shareholders in one year.
With a market capitalization of Rs. 1,646 crores, the shares of Moschip Technologies Ltd started Thursday’s trading session positively at Rs. 85 compared to its previous close of Rs. 84.09. During the trading session, the shares hit a high of Rs. 97.70, gaining around 15 percent and are currently trading at Rs. 95.45 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced that they have partnered with Tenstorrent for the advancement of RISC-V solutions, by leveraging MosChip’s design expertise.
The partnership focuses on the design and development of Tenstorrent’s RISC-V solutions, with MosChip contributing its extensive experience in Physical Design, DFT, Verification, and RTL Design services. Furthermore, MosChip has completed over 200 multi-million gate ASICs, which will play a crucial role in the development of Tenstorrent’s RISC-V solutions.
Moreover, the collaboration between Tenstorrent and MosChip aims to deliver innovative solutions that cater to the evolving needs of the market, with Tenstorrent’s RISC-V core being among the highest-performing CPUs observed by MosChip.
Coming onto the company’s financial statements, the revenue increased by 21 percent from Rs. 71.85 crores during the September quarter to Rs. 86.63 crores in the December quarter. On a contrasting note, the net profits declined by 40 percent from Rs. 3.63 crores to Rs. 2.19 crores during the same period.
The company is focusing on research, development, and technology advancements, particularly in embedded software and AI/ML domains. Additionally, the company is aligning with India’s push for local semiconductor manufacturing to cater to domestic demand and contribute to technological advancements within the Indian semiconductor ecosystem.
Headquartered in Telangana, MosChip was incorporated in 1999. The company is a semiconductor and system design company with a focus on Turnkey ASICs, Mixed Signal IP, Semiconductor and Product Engineering, and IoT solutions catering to various industries such as Aerospace and Defence, Consumer Electronics, Automotive, Medical, Networking and Telecommunications.
Written By Vaibhav Patil
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