MIRC Electronics jumps after allotting equity shares on preferential basis

MIRC Electronics surges 5.32% to Rs 14.25 at 11:18 IST on BSE after the company said that it allotted 1.55 crore equity shares to Bennett Coleman & Co on preferential basis.

The announcement was made after market hours on Friday, 06 January 2017.

Meanwhile, the S&P BSE Sensex was down 9.22 points or 0.03% at 26,756.87.

On the BSE, 1.45 lakh shares were traded on the counter so far as against the average daily volumes of 1.75 lakh shares in the past one quarter. The stock had hit a high of Rs 14.70 and a low of Rs 14.06 so far during the day.

The stock had hit a 52-week high of Rs 19.40 on 7 January 2016 and a 52-week low of Rs 8.06 on 26 February 2016.

The small-cap company has equity capital of Rs 19.62 crore. Face value per share is Rs 1.

MIRC Electronics' said that preferential issue committee of the company has allotted 1.55 crore equity shares Rs 14.66 per share (including a premium of Rs 13.66 per share) to Bennett Coleman & Co, being person other than promoter and /or promoter group on preferential basis.

Consequently, the paid up equity share capital of the company now stands increased from Rs 19.62 crore to 21.17 crore.

MIRC Electronics' reported net loss of Rs 9.09 crore in Q2 September 2016, as compared to net loss of Rs 16.61 crore in Q2 September 2015. Net sales rise 1.5% to Rs 147.05 crore in Q2 September 2016 over Q2 September 2015.

MIRC Electronics makes electronic products such as television sets, washing machines, air conditioners, DVDs and Microwave Ovens under the Onida brand. The company also makes mobiles phones under the Onida brand.

Powered by Capital Market - Live News