{"id":109323,"date":"2023-09-07T17:03:25","date_gmt":"2023-09-07T11:33:25","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=109323"},"modified":"2023-09-07T17:03:30","modified_gmt":"2023-09-07T11:33:30","slug":"penny-stock-hits-upper-circuit-after-companys-board-approves-raising-90-crores-via-qip","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/penny-stock-hits-upper-circuit-after-companys-board-approves-raising-90-crores-via-qip\/","title":{"rendered":"Penny stock hits upper circuit after company&#8217;s board approves raising \u20b9 90 Crores via QIP\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-149345756\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of a global leader in LED display production locked around 2 percent upper circuit on Thursday\u2019s early trade after the company board approved to raise funds through Qualified Institutions Placement.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2504647608\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>At 11:15 p.m., <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/MICEL\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">MIC Electronics Ltd<\/a><\/strong> shares touched around 2 percent upper circuit of Rs 31 apiece on the National Stock Exchange, and the company has a market capitalization of Rs 686 crores.\u00a0<\/p><p>According to the company&#8217;s exchange filing, the board of directors has approved raising capital of up to Rs. 90 crores through Qualified Institutions Placement (&#8220;QIP&#8221;) or private offers, or any combination thereof.&nbsp;<\/p><p>The MIC electronics share has delivered 147 percent in six months and 123 percent over a year. A one-lakh rupee investment in the firm would be worth Rs. 2.47 lakhs after a year and Rs. 2.23 lakhs after a half-year.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3832155092\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The operational income of MIC Electronics has risen by 241 percent year on year, from Rs 2.42 crore in Q1FY22 to Rs 8.26 crore in Q1FY23. During the same time period, the net loss was reduced from Rs 1.24 crore to Rs 1.24 crore.&nbsp;<\/p><p>MIC Electronics Limited offers element management system (EMS) and network management System (NMS) solutions for the telecommunications, railway, and network industries.&nbsp;<\/p><p>According to the latest shareholding pattern, the company promoters hold 74.63 percent stake, while retail investors possess 25.37 percent.&nbsp;<\/p><p><strong>Since this company is classified as a penny stock, Individual investors must conduct extensive research before investing since high-return penny stocks have volatile performance, are rarely traded, and a small number of trades may result in a circuit limit.&nbsp;<\/strong><\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Omkar Chitnis<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-1733958287\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of a global leader in LED display production locked around 2 percent upper circuit on Thursday\u2019s early trade after the company board approved to raise funds through Qualified Institutions Placement.&nbsp; At 11:15 p.m., MIC Electronics Ltd shares touched around 2 percent upper circuit of Rs 31 apiece on the National Stock Exchange, and [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":45293,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[10217,10219,10216,948,936,10218],"class_list":["post-109323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-mic-electronics-latest-news","tag-mic-electronics-latest-order","tag-mic-electronics-share-price","tag-stock-market","tag-stock-market-news","tag-why-is-mic-electronics-share-going-up"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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