MIC Electronics is locked its upper circuit limit at Rs. 16.25, up by 0.75 points or 4.84% from its previous closing of Rs. 15.50 on the BSE.
The scrip opened at Rs. 15.50 and has touched a high and low of Rs. 16.25 and Rs. 15.50 respectively. So far 64197 shares were traded on the counter.
The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 39.75 on 12-Jan-2022 and a 52 week low of Rs. 1.02 on 25-May-2021.
Last one week high and low of the scrip stood at Rs. 17.15 and Rs. 15.40 respectively. The current market cap of the company is Rs. 359.85 crore.
The promoters holding in the company stood at 74.63%, while Non-Institutions held 25.37%.
MIC Electronics (MICEL) is looking to aggressively enter the domestic EV ecosystem in the ongoing fiscal (FY23) amid plans to revitalize its existing business lines. The EV foray is in lines with the company’s strategy of growing the business efficiently through diversification. With the newly-established batteries division, the company plans to ensure a topline delivery of Rs 45-60 crore by this fiscal end. The company is already in final-stage of talks with a few existing players in the domestic market to expand into areas like EV charging and servicing, among other allied areas.
The company has already picked up a stake in an e-2W company that deals into the multi-brand EV dealership business. Among the key verticals that the company aims to scale include LED display boards, Railways PIS and displays, among others. Simultaneously, MIC has also planned to enter the EV-enabling space in India in a very aggressive way, in lines with its strategy of growing the business efficiently through diversification.
MIC Electronics (MIC) is an India-based company. The company is engaged in manufacturing light emitting diode (LED) lighting solutions. The Company is engaged in the development, production and sale of video and animation displays and text and graphic displays.