Multibagger LED solutions stock MIC Electronics share price rose 3% in intra-day deals on Friday, February 13 despite weak trands on Dalal Street.
The stock fell over 2% in early deals to its day’s low of ₹40.76 but later pared gains to jump as much as 5.2% from its intra-day low to its day’s high of ₹42.9. From previous close, the small-cap stock advanced 3% to its intra-day high.
It has been in the red, down 36% in the last 1 year, 8% in 6 months and 11% in 3 months. However, it recently recovered, adding 9% in past 1 month.
Meanwhile, it has given multibagger returns in long term, soaring 1150% in last 5 years.
Recent Developments
MIC Electronics also informed the stock exchanges today that it has entered into a Memorandum of Understanding (MoU) with Refit Global Private Limited as part of its efforts to explore strategic growth opportunities.
According to the filing, the MoU is aimed at evaluating a potential strategic transaction, which may include investment through equity, debt or hybrid instruments, acquisition of shares, assets or business, share swap arrangements, preferential issuance, or other mutually agreed structures.
The collaboration seeks to combine MIC Electronics’ decades of experience in large-scale manufacturing, global technology delivery capabilities, institutional relationships and financial strength with Refit Global’s advanced refurbishment platforms, certified supply chains and strong B2C market presence. The objective is to build a next-generation circular electronics platform focused on sustainable growth, digital inclusion and value creation across the refurbished electronics value chain.
The company stated, “The collaboration brings together MIC Electronics’ decades of large-scale manufacturing excellence, global technology delivery capabilities, deep institutional relationships, and financial strength with Refit Global’ advanced refurbishment platforms, certified supply chains, and strong B2C market penetration.”
Earlier this week, the firm received a LoA from the Howrah Division of the Eastern Railway Zone, Indian Railways, for the installation of coach and train indication boards across various railway stations. The contract is valued at ₹4.45 crore, as per an exchange filing.
“MIC Electronics Limited (“the Company”) hereby informs you that the Company has received a Letter of Acceptance from Howrah Division, Eastern Railway Zone of Indian Railways, for the provision of CIB, TIB (Coach and Train Indication Boards) at PRGR, SKIP, BZLE, SALE, MGAE, SDI, MRR, and RJG stations over Howrah division for an amount of Rs. 4,45,01,602.40,” the company said in the exchange filing.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
