MIC shares surge 54% in a month; what's the reason
MIC Electronics' stock shot up 54% this past month, thanks to the GST Council lowering taxes on ACs and TVs from 28% to 18%.
This tax cut is expected to boost sales for companies like MIC.
Even with a recent 8% dip, the company has secured new ₹1.73 crore contracts with Northern and South Central Railways.
Analysts recommend buying MIC shares at ₹70-75
Analysts like Anand Rathi suggest buying MIC shares at ₹70-75, targeting ₹85, pointing to positive technical signals.
Khandala Securities also notes MIC's push into semiconductors and AI through global partnerships—including plans with Singapore's Top2 to ramp up chip production—which could help the company grow in tech.
MIC's revenue jumped 74% in FY2024-25
MIC's revenue jumped 74% to nearly ₹948 million in FY2024-25, though higher interest costs hit profits.
For July-September 2025, revenue is set to almost double year-on-year.
The company aims for ₹5,000 million in annual revenue within four years and hopes to boost profit margins as it expands into new tech areas.