MIC Electronics recovers on bargain hunting

MIC Electronics rose 1.02% to Rs 8.95 at 9:45 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was up 106.04 points or 0.33% at 31,853.13. The S&P BSE Small-Cap index was up 71.95 points or 0.46% at 15,878.38.

On the BSE, 6,051 shares were traded on the counter so far as against the average daily volumes of 1.87 lakh shares in the past one quarter. The stock had hit a high of Rs 9 and a low of Rs 8.82 so far during the day. The stock had hit a 52-week high of Rs 19.40 on 1 November 2016 and a 52-week low of Rs 8.80 on 10 July 2017.

The stock had underperformed the market over the past one month till 11 July 2017, sliding 17.89% compared with the Sensex's 1.55% rise. The stock had also underperformed the market over the past one quarter, declining 38.6% as against the Sensex's 6.58% rise. The scrip had also underperformed the market over the past one year, sliding 45.14% as against the Sensex's 14.91% rise.

The small-cap company has equity capital of Rs 44.05 crore. Face value per share is Rs 2.

Shares of MIC Electronics had fallen 11.66% in the preceding eight trading sessions to settle at Rs 8.86 yesterday, 11 July 2017, from its closing of Rs 10.03 on 29 June 2017.

On consolidated basis, MIC Electronics reported net loss of Rs 7.43 crore in Q4 March 2017, lower than net loss of Rs 128.28 crore in Q4 March 2016. Net sales rose 8.5% to Rs 65.70 crore in Q4 March 2017 over Q4 March 2016.

MIC Electronics manufactures LED video displays, high-end electronic and telecommunication equipment and development of telecom software.

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