MIC Electronics tumbles after weak Q2 results

MIC Electronics fell 8.31% to Rs 17.10 at 11:17 IST on BSE after consolidated neet profit declined 71.57% to Rs 2.22 crore on 1.95% rise in net sales to Rs 53.97 crore in Q2 September 2016 over Q2 September 2015.

The result was announced after market hours yesterday, 1 November 2016.

Meanwhile, the BSE Sensex was down 275.43 points, or 0.99%, to 27,601.18.

On BSE, so far 3.32 lakh shares were traded in the counter, compared with average daily volume of 204 lakh shares in the past one quarter. The stock hit a high of Rs 17.35 and a low of Rs 16.25 so far during the day. The stock hit a 52-week high of Rs 28.65 on 6 January 2016. The stock hit a 52-week low of Rs 13 on 7 June 2016. The stock had outperformed the market over the past 30 days till 1 November 2016, rising 21.50% compared with the 1.30% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 33.60% as against Sensex's 0.65% rise.

 

The small-cap company has equity capital of Rs 35.39 crore. Face value per share is Rs 2.

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

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