Shares of Hyderabad-headquartered MIC Electronics Limited (MICEL) surged 10 per cent on Wednesday amid a rally in benchmark indices. The stock started the trading session in green amid a rebound in Sensex and Nifty, helped by buying in blue-chip stocks and a rally in Asian markets. Buying by domestic institutional investors also offered support, helping cushion the downside moves. While the 30-share BSE Sensex gained 358.92 points to 77,245.83, the 50-share NSE Nifty was up by 101.2 points to 24,096.90. Amid the rally, the stock opened with a gain of 0.88 per cent, or Rs 0.36, at Rs 40.86, against the previous close of 40.50. Amid a spurt in trading volume by more than 3.53 times, the stock advanced further and was locked in a 10 per cent upper circuit at Rs 44.55. The market cap of the company stood at Rs 1,070.09 crore.
According to data available on the BSE, 3,20,797 equity shares of the company were traded as of 12:20 pm.
Relative strength index
The stock has outperformed the sector by 9.59 per cent and, technically, trades above the 5-day, 20-day, 50-day, and 100-day moving averages but below the 200-day moving average.
The stock’s 14-day relative strength index (RSI) is 58.07. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Share price history
According to BSE Analytics, the stock has delivered a strong return of 6,132.39 per cent in five years and 247 per cent in three years. However, it has corrected 23.76 per cent in one year. On a year-to-date basis, the stock has gained 1.44 per cent, compared to an 8.55 per cent dip in the benchmark index.
In its March quarter results, the company reported operating revenue of Rs 507.9 million in Q4FY26, compared to Rs 126.3 million in the same quarter last year. Total expenses increased to Rs 402.4 million in the March quarter from Rs 113.4 million a year earlier. Profit in Q4 was Rs 184.1 million, compared to Rs 14.2 million in the same quarter a year earlier.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
