Vybhav,
You may be looking for CMPYR or CMPYR1 instructions and their associated intrinsics. You may also want to look at some SIMD instructions such as DCMPYR1. Obviously, you need to check the CPU guide to see if any one of these may be useful.
You may find the following forum posts helpful:
http://e2e.ti.com/support/dsp/tms320c6000_high_performance_dsps/f/112/t/11606.aspx
http://e2e.ti.com/support/dsp/c6000_multi-core_dsps/f/639/t/273221.aspx
-Todd