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MIC Electronics gains 20% on GST cut for ACs, TVs
MIC Electronics' stock shot up 20% to a 12-week high on Thursday, right after the government slashed GST on air conditioners and TVs from 28% to 18%.
This tax cut is expected to make these gadgets more affordable and could boost demand for electronics companies.
MIC Electronics operates in India's fast-growing LED display market
MIC Electronics operates in India's fast-growing ₹2,000 crore LED display market.
With the overall market supported by big government projects like Smart Cities and Digital India, plus fresh railway contracts worth ₹1.73 crore, the company has seen its shares skyrocket 9763% over five years—turning early investments into serious gains.