Mindteck (India) Limited (BSE: 517344 and NSE: MINDTECK), the global engineering and technology solutions company with niche knowledge and expertise in the storage, medical device, semiconductor and analytical instrument industries, has been awarded a high-value, full development project from a US-based semiconductor equipment manufacturing client.
The client focuses on delivering next-generation semiconductor solutions. This win follows the successful execution and delivery of a three-month system study phase for the same project which initiated the new client relationship during the fourth quarter of last year.
Mr. Arup Banerjee, Senior Vice President - Global Delivery and Practices, said: "I am truly proud of the way our team worked so well together to make this happen. The scope of the project encompasses the design and development of a common cluster tool controller software framework for their new and existing products, as well as the development of control application for three of their existing tools. In total, there will be 33 modules to develop. We look forward to getting started to bring about a successful outcome."
Commenting on the win, Mr. Anand Balakrishnan, Chief Executive Officer and Managing Director, said: "We are extremely delighted about this project win. It is yet another testament of our valued niche knowledge gaining recognition from key leaders of the semiconductor industry."
The project, which will be fully managed by Mindteck's team and executed in two phases, is due for final delivery by mid-2021.
Shares of MINDTECK (INDIA) LTD. was last trading in BSE at Rs.20.7 as compared to the previous close of Rs. 21.75. The total number of shares traded during the day was 2467 in over 18 trades.
The stock hit an intraday high of Rs. 20.75 and intraday low of 20.7. The net turnover during the day was Rs. 51147.