Moschip Semiconductor opened today at Rs.51.15, breaching the upper circuit and immediately after that, hit the 5% upper circuit at Rs.53.70 and stays frozen there. Its 52-week high stands at Rs.68.55.

The company announced on Saturday that it had signed a binding MOU for establishment and maintenance of Smart Center with Centralised Command and Monitoring System (CCMS) in the State of Andhra Pradesh on sub-contracting basis.

The total value of the sub-contract is RS.83 crore, to be implemented in 24 months, providing CCMS Solution to selected Gram Panchayats in the State of Andhra Pradesh.

A centralized smart center will be established in Amaravathi, the new Capital city of Andhra Pradesh to manage and monitor the entire process of Automation and is designed to adhere to additional lOT services in the future. The engagement also includes seven years Maintenance contract.