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MIC Electronics touches roof on getting nod to invest in Right Automobiles

14 Mar 2022 Evaluate

MIC Electronics is locked its upper circuit limit at Rs. 21.05, up by 1.00 points or 4.99% from its previous closing of Rs. 20.05 on the BSE.

The scrip opened at Rs. 21.00 and has touched a high and low of Rs. 21.05 and Rs. 20.45 respectively. So far 22995 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 2 has touched a 52 week high of Rs. 39.75 on 12-Jan-2022 and a 52 week low of Rs. 0.63 on 01-Apr-2021.

Last one week high and low of the scrip stood at Rs. 21.05 and Rs. 16.75 respectively. The current market cap of the company is Rs. 115.91 crore.

The Non-Institutions holding in the company stood at 100%.

MIC Electronics has received an approval to invest by way of subscribing 10,50,000 equity shares of Right Automobiles at an issue price of Rs 32 per share including a premium of Rs 22 per share aggregating to Rs 3.36 crore, based on the valuation report and as a result of such investment Right Automobiles will become 51.22% subsidiary to the Company. The Board of Directors of the company at its meeting held on March 12, 2022, has approved the same.

MIC Electronics (MIC) is an India-based company. The company is engaged in manufacturing light emitting diode (LED) lighting solutions. The Company is engaged in the development, production and sale of video and animation displays and text and graphic displays.

MIC Electronics Share Price

42.75 0.88 (2.10%)
17-Apr-2026 16:59 View Price Chart
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