Semiconductor stock jumps up to 10.7% after company applies for DLI scheme 

On Friday, shares of this semiconductor design company rose up to 10.7 percent to Rs 98.95 a share after the company applied for a DLI scheme to develop a chip for smart meter applications. 

At 2:50 p.m., On the Bombay stock exchange, Moschip Technologies Ltd shares were trading at Rs 96 per share, up Rs 6.67 or 7.47 percent from the previous close price. The company has a market capitalization of Rs 1,713 crore. 

The Indian Government approved a $10 billion incentive plan to establish chip and display industries to become an electronics manufacturing hub. In this scheme, Moschip has applied for a Design Linked Incentive(DLI) scheme to develop a chip for smart meter applications. The company reported in its Annual General Meeting. 

The company’s revenue has increased by 39 percent year on year, from Rs 41 crore in Q1FY23 to Rs 57 crore in Q1FY24. During the same period, Net profit has significantly increased by 200 percent from Rs 1 crore to Rs 3 crore. 

Moschip Technologies shares have delivered a return of 46 percent in the previous six months, and a return of 21 percent in a year. 

For the recent financial year, the company reported a return on equity of 5.46 percent and a return on capital employed of 8.77 percent. 

According to the latest shareholding pattern, The company promoters hold 51.22 percent stake, while retail investors hold 48.65 percent stake. 

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. 

Written by Omkar Chitnis

Disclaimer

The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.