MIC Electronics Sees 5% Jump in Wednesday's Trade

Shares of MIC Electronics surged 5% in Wednesday's trade, reaching Rs 33.19 per share on the National Stock Exchange (NSE). This uptick is in line with the broader market rally.

Company Update

The company's board of directors is scheduled to meet on March 30, 2026, to consider several key proposals. The board will review the acquisition of an 89.65% stake in Neo Semi SG Pte Ltd, Singapore, through a share-swap arrangement. Additionally, the board will consider acquiring a 43.05% stake in Refit Global Private Ltd through a related preferential issue of shares on a non-cash basis.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

Internal Restructuring

The company will also discuss an internal restructuring plan involving the transfer of its Lighting Division and Medical and Other Appliances Division to subsidiary MICK Digital India Ltd through a slump sale. Furthermore, the board may consider transferring its 40% stake in MICK Digital India Ltd to LED India Private Ltd.

Market Performance

The benchmark indices continued their upward trend, with the Sensex jumping 1,603.04 points (2.16%) to 75,671.49, and the Nifty rising 514.30 points (2.24%) to 23,426.70. All 16 major Nifty sectoral indices were trading in the green, with the Nifty Smallcap100 and Nifty Midcap100 indices gaining 2.9% and 2.4%, respectively.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline