Shares of MIC Electronics are seeing stunted growth
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MIC said it first quarter net profit stood at 47.5 crore rupees compared with a loss of 3.2 crore rupees in the same period last year. Sales surged 26 percent in April-June to 47.8 crore rupees compared with 37.8 crore rupees.
MIC rose 2.35 rupees, or 9.8 percent, to 26.30 rupees on the NSE where 12.2 lakh shares were traded versus 5-day average of 6.5 lakh shares.
MIC's market capitalisation has surged nearly 5-fold in the past one year to 289 crore rupees.
Image credit: Indiatimes
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