Shares of Hyderabad-headquartered LED solutions provider MIC Electronics Limited (MICEL) are on investors’ radar after the company incorporated a new wholly owned subsidiary, MIC Defence Systems Private Limited. According to the information shared, the company received its Certificate of Incorporation dated August 31, 2026, from the Registrar of Companies, Central Registration Centre, Ministry of Corporate Affairs. The company has received the Certificate of Incorporation following approval from the company’s board.
Details of wholly-owned subsidiary
The new entity, MIC Defence Systems Private Limited, will be a 100 per cent wholly-owned subsidiary of MIC Electronics Limited with authorised capital of Rs 10,00,000 and paid-up capital of Rs 1,00,000.
The key areas of focus of the newly formed entity will be defence electronics, defence systems, aerospace, homeland security, unmanned systems, communication systems, and surveillance solutions. Also, the company engage in electronic warfare, artificial intelligence-driven defence technologies, cybersecurity solutions, and allied products.
Share price today
The stock opened in the red at Rs 37.32 against the previous close of Rs 38.08 on the BSE, down 2 per cent. The market cap of the company stood at Rs 899.46 crore. The stock hit its 52-week high of Rs 82.82 on September 9, 2025 and a 52-week low of Rs 30 on March 30, 2026.
Share price history
According to BSE Analytics, the stock has delivered returns of 2,727.27 per cent in five years and 28.91 per cent in three years. However, it has corrected 53.78 per cent in two years and 27.56 per cent in one year.
On a year-to-date (YTD) basis, the stock has dropped 14.44 per cent, compared with a 10.06 per cent fall in the benchmark index.
The BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 2 (ST ASM-2) framework.
The stock’s 14-day relative strength index (RSI) is 52.3. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Meanwhile, benchmark equity indices Sensex and Nifty rebounded today after three sessions of losses. The 30-share BSE Sensex climbed 334.16 points, or 0.44 per cent, to 76,904.51 in morning trade. The 50-share NSE Nifty advanced 95.45 points to 24,009.90.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
