has maintained a strong uptrend in recent sessions, reaching levels not seen in the recent past. Investor sentiment towards the stock improved sharply after the GST rate cut on electronics, which is expected to boost sales and profits.
Over the past month, the shares have surged from ₹45.65 to the current level of ₹74.61, delivering a massive gain of 64%, with the majority of these gains coming in September so far.
The company designs, develops, and manufactures Light-Emitting Diode (LED) street lights and video displays. Its main products include video displays (both indoor and outdoor) and mobile and LED lighting systems. These displays are predominantly used in Indian Railways, sports stadiums, transportation hubs, and public information displays.
Anand Rathi sees MIC Electronics stock hitting ₹85 in one month
Despite the stock’s phenomenal run, propelling it to trade at an eight-month high, domestic brokerage Anand Rathi expects the stock to continue its robust rally, forecasting it to reach ₹85 per share, implying a further upside of 14% from Wednesday’s closing price.
“MICEL has delivered a breakout above the crucial 70 mark on the weekly chart, supported by a noticeable rise in volumes, which adds strength to the move. Technical indicators are also favoring the bullish sentiment, with MACD showing a bullish divergence and RSI indicating positive divergence, suggesting a momentum shift towards the upside,” the brokerage said in its pick-of-the-month report.
Given these supportive signals, the brokerage advised traders to accumulate in the ₹70–75 price band, recommending a protective stop loss at ₹65 (on a closing basis) to manage risk. On the upside, it expects the stock to test ₹85 levels in one month.
Targeting semiconductor wafer production capacity of 25,000–30,000 monthly
The company on Wednesday said it , a Singapore-based entity, to explore, identify, and finalise a semiconductor partner from Taiwan.
“The purpose of this MOU is to establish a framework under which MIC shall engage Top2 to explore, identify, and finalise a semiconductor fabrication partner from Taiwan. The objective is to initiate semiconductor wafer production with a monthly target capacity of 25,000 to 30,000 wafers, subject to feasibility, negotiations, and regulatory compliance,” the company said in its regulatory filing today.
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