Sasken Communication Technologies shares jumped 20 per cent on Monday following its settlement with Spreadtrum Communications and Beijing UniSpredtrum Technology in connection with the unauthorized use of Sasken's protocol stack IP, traders said.
Bengaluru-based Sasken Communication Technologies will receive $45 million (around Rs 300 crore) as damages/compensation over the next few days, the company informed the Bombay Stock Exchange on Monday.
Sasken Communication Technologies offers research and development consultancy, wireless software products, software services and network engineering services to semiconductor manufacturers, wireless handset developers, network equipment and test and measurement companies, and service providers globally.
Sasken Communication Technologies shares closed 20 per cent higher at Rs 378.20 as compared to 0.4 per cent gain in the broader Nifty.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
