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Semiconductor stock hits 5% upper circuit after it receives approval for GPS location based information system

Semiconductor company received approval for GPS-based Public Address and Passenger Information Systems (PAPIS) and LED Destination Boards, advancing passenger communication in AC and Non-AC coaches under regulatory specifications.
Semiconductor Stock Soars 5% as GPS Location-Based Information System Approval Drives Market Excitement!
Semiconductor Stock Soars 5% as GPS Location-Based Information System Approval Drives Market Excitement!

Introduction:

Semiconductor firm achieved a key milestone by securing approval for Capacity Cum Capability Assessment (CCA) of GPS-based Public Address and Passenger Information Systems (PAPIS) and LED Destination Boards, enhancing passenger communication in AC and Non-AC coaches.

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Also Read: Renewable energy stock jumps after announcing capex plans worth ₹2,703 Cr 

Share price movement of MIC Electronics:

On December 24, 2024, MIC Electronics Ltd opened at ₹86.59, up 4.79% from its previous close of ₹82.63. The stock hit a high of ₹86.76 (5.00%) and a low of ₹85.60. By 10:03 AM, it traded at ₹86.76, achieving a 5.00% increase, with a market cap of ₹2,091.02 crore.

MIC Electronics secures PAPIS approval:

MIC Electronics Limited announced a significant milestone under SEBI Regulation 30. The company received approval for its Capacity Cum Capability Assessment (CCA) for GPS-based Public Address and Passenger Information System (PAPIS) and LED Destination Boards.

The approval, covering both AC and Non-AC ICF & LHB coaches, aligns with RDSO/CG-18001 (Rev.2) specifications. This development follows MIC Electronics’ registration request in June 2024 and reinforces its commitment to enhancing passenger communication systems.

The announcement assures stakeholders of the company’s strategic progress in leveraging cutting-edge technology for public transportation, further boosting its market reputation and future growth prospects.

Recent news on MIC Electronics:

As of November 25, 2024, MIC Electronics reported a 166.31% increase in net sales for September 2024, totaling ₹27.46 crore. However, net profit fell 75.14% to ₹2.13 crore. The stock has delivered 121.94% returns over the past year.

Stock performance of MIC Electronics for Period of 1 week, 6 months and 1 year:

MIC Electronics Ltd. has experienced a 6.09% decline over the past week, but shows strong growth over the last 6 months with a 5.40% return. The company has delivered an impressive 142% return over the past year.

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Shareholding pattern of MIC Electronics:

All values in %Sep 2024Jun 2024Mar 2024
Promoter66.50%68%74.60%
FII4.80%8.40%0.00%
DII0.00%0.00%0.00%
Public28.80%24.10%25.40%
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About MIC Electronics:

MIC Electronics Ltd (NSE: MICEL) is a global leader in designing, developing, and manufacturing LED video displays, telecom equipment, and software. Founded in 1988, it has a strong presence in India and international offices in Australia, Dubai, and the USA.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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