Shares of Hyderabad-headquartered MIC Electronics Limited (MICEL) are in action even as Indian benchmark indices remained volatile in early trade. The stock started the trading session in green with a minor gain at Rs 42.10 against the previous close of Rs 42.07 on the BSE. Amid a spurt in trading volume by more than 6.03 times, the stock touched an intraday high of Rs 44.17, marking a rise of 4.99 per cent during the session and also its upper circuit. Last seen, the scrip held in green and was trading at Rs 43.75 with a gain of 3.99 per cent. The market cap of the company stood at Rs 1,053.22 crore. On the National Stock Exchange (NSE), the stock opened at Rs 42.10 against the previous close of Rs 42. It later touched a high of Rs 44.10.
The counter has been gaining for the last two days and has delivered returns of 5.56 per cent over this period. It also outperformed its sector by 4.82 per cent.
Relative strength index
Technically, the stock is trading higher than its 5-day, 20-day and 50-day moving averages. However, it remains below its 100-day and 200-day moving averages.
The stock’s 14-day relative strength index (RSI) is 52.54. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Stock price history
According to BSE Analytics, the stock has gained 6,155 per cent in five years and 250.88 per cent in three years. However, it has corrected 6.41 per cent and 23.19 per cent in two years and one year. On a year-to-date (YTD) basis, it has gained 0.39 per cent against the dip of 2.32 per cent in the benchmark index.
Meanwhile, equity benchmark indices Sensex and Nifty began the trade on a negative note on Wednesday, tracking losses in IT and Services stocks in a volatile session. After a bearish start, the 30-share BSE Sensex further declined 247.92 points, or 0.30 per cent, to 83,203.04. The 50-share NSE Nifty dropped 70.25 points, or 0.27 per cent, to 25,655.15.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
