Moschip Semiconductor up 5% on $1 million order win

Moneycontrol BureauShares of Moschip Semiconductor Technology has locked at 5 percent upper circuit on Monday as it has bagged an order worth USD 1 million."The company's US subsidiary has entered into an agreement with one of its valuable partners in the US to produce and support a custom silicon solution for its digital cinema product," as per company release.The said order is to be executed in next two quarters and it enables the company to establish a footprint for continued engagement in delivering digital cinema silicon and systems solutions.The company has also signed a binding MoU for establishment and maintenance of smart center with centralised command and monitoring system in the state of Andhra Pradesh on sub-contracting basis.The total value of sun-contract is Rs 83 crore to be implemented in 24 months.At 09:30 hrs Moschip Semiconductor Technology was quoting at Rs 53.70, up Rs 2.55, or 4.99 percent on the BSE.There were pending buy orders of 191,872 shares, with no sellers available. Posted by Rakesh Patil