Sasken soars on reaching settlement with Spreadtrum

14 Mar 2016

Sasken Communication Technologies is currently trading at Rs. 365.30, up by 49.10 points or 15.53% from its previous closing of Rs. 316.20 on the BSE.

The scrip opened at Rs. 324.00 and has touched a high and low of Rs. 378.90 and Rs. 324.00 respectively. So far 132404 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 419.40 on 26-Nov-2015 and a 52 week low of Rs. 176.20 on 25-Mar-2015.

Last one week high and low of the scrip stood at Rs. 378.90 and Rs. 281.90 respectively. The current market cap of the company is Rs. 648.55 crore.

The promoters holding in the company stood at 40.52% while Institutions and Non-Institutions held 17.99% and 41.49% respectively.

Sasken Communication Technologies has reached a settlement with Spreadtrum Communications, Inc. and Beijing UniSpreadtrum Technology (Spreadtrum) in connection with the unauthorized use of Sasken’s Protocol Stack IP, by the said companies. This settlement brings to an end the ongoing arbitration and terminates all ongoing obligations of the parties under the relevant agreements.

The formal settlement document is expected to be finalized in the next few days. Spreadtrum will pay Sasken $45 million as damages / compensation before March 31, 2016 towards this settlement.

Sasken Communication Technologies offers a range of services in areas of research & development consultancy, wireless software products and software services, and works with network OEMs, semiconductor vendors, terminal device OEMs and operators across the world.


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