MIC Electronics zooms on plan to enter Consumer LED lighting market during Q3FY17

08 Aug 2016

MIC Electronics is currently trading at Rs 14.99, up by 0.44 points or 3.02% from its previous closing of Rs 14.55 on the BSE.

The scrip opened at Rs. 14.98 and has touched a high and low of Rs. 15.25 and Rs. 14.71 respectively. So far 155628 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 28.80 on 17-Aug-2015 and a 52 week low of Rs. 13.00 on 07-Jun-2016.

Last one week high and low of the scrip stood at Rs. 15.25 and Rs. 13.85 respectively. The current market cap of the company is Rs. 264.38 crore.

The promoters holding in the company stood at 15.60%, while Institutions and Non-Institutions held 0.15% and 84.25% respectively.

MIC Electronics in association with LG Innotek is going to launch MIC-LG branded LED lighting products to penetrate into Consumer LED lighting market, in the 3rd quarter of financial year 2016-17.

The company and State Bank of India (SBI) have mutually agreed for a one time settlement of working capital loan as per the settlement letter dated August 03, 2016. The bank has agreed to waive the total outstanding interest of Rs 22.46 crore. As a result, the total outstanding due of the company towards this loan has reduced to Rs 57.43 crore.

MIC Electronics is a global leader in the design, development & manufacturing of LED Video Displays and Lighting Products.

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