Back-to-Back 52-week high as this multibagger semiconductor software company got approval for DLI application for the development of a smart energy meter IC from Government of India

The stock gave multibagger returns of 200 per cent in just 3 months, 515 per cent in 2 years and a whopping 8,650 per cent in 10 years.

Today, one of the Top Gainers on BSE, shares of MosChip Technologies Limited gained 13.11 per cent to Rs 281.30 per share with an intraday high of Rs 281.95 and an intraday low of Rs 253.70. The stock also made a fresh new 52-week high of Rs 281.95 per share while its 52-week low is Rs 67.10 with a spurt in volume by more than 1.50 times on BSE. In the recent trading sessions, the stock has been hitting back-to-back 52-week highs. 

MosChip Technologies Limited, a leading Indian company in semiconductor, software, and system design solutions, has received a significant boost for its development of smart energy meter technology. The Ministry of Electronics and Information Technology (MeitY) of the Indian government approved MosChip's application under the Design Linked Incentive (DLI) scheme. This scheme aims to support domestic companies in the semiconductor design industry by offering financial incentives and design infrastructure assistance.

The DLI scheme is a crucial initiative for India's semiconductor industry. It recognizes the challenges faced by domestic companies and seeks to empower them to move up the value chain and strengthen the overall chip design ecosystem within the country. The scheme is overseen by CDAC (Centre for Development of Advanced Computing) and provides financial aid along with design infrastructure support across various stages of development for integrated circuits, chipsets, and other related technologies. This support is expected to be instrumental for MosChip's development of smart energy meter ICs, a market projected for significant growth in the coming years.

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MosChip Technologies Limited, a publicly traded company headquartered in Hyderabad, India, is a leader in semiconductor, software, and system design solutions. Their team of over 1300 engineers across locations in the United States (Silicon Valley), India (Hyderabad, Bangalore, Ahmedabad, and Pune) offers a wide range of services including designing and manufacturing turn-key digital and mixed-signal ASICs, providing design services, SerDes IP (serializer/deserializer intellectual property), and software and system design. With over 20 years of experience, MosChip has a proven track record of success, having developed and delivered millions of connectivity ICs worldwide.

The company has a market cap of over Rs 5,000 crore and has delivered good profit growth of 18.6 per cent CAGR over the last 5 years. The stock gave multibagger returns of 200 per cent in just 3 months, 515 per cent in 2 years and a whopping 8,650 per cent in 10 years. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.