MIC Electronics share price jumped over 9% on Friday, led by strong buying volumes, despite a weak trend in the Indian stock market today. The small-cap stock rallied as much as 9.63% to ₹57.60 apiece on the BSE.
The rally in MIC Electronics shares was supported by robust trading volumes. Around 1 crore equity shares of MIC Electronics changed hands on stock exchanges on May 8, as compared to its one week average trading volume of 46 lakh shares, and one month average volumes of 23 lakh shares.
MIC Electronics announced that it has initiated the development of IPIS v2.0 for Indian Railways, and the project is progressing as per plan.
“The product architecture has been successfully established, with dedicated teams working in parallel across hardware, firmware, and Network Management System (NMS) application software development,” MIC Electronics said in a regulatory filing on May 8.
The program has achieved meaningful progress across all major development areas and is currently on track toward product realization and delivery, it added.
MIC Electronics Share Price Performance
MIC Electronics share price has fallen 20% this year so far, and has declined over 42% in six months. The smallcap stock has dropped 33% in one year, and has plunged 22% in two years. MIC Electronics shares have delivered multibagger returns of 167% in three years, and a staggering 4,708% returns over the past five years.
At 11:30 AM, MIC Electronics share price was trading 6.51% higher at ₹55.96 apiece on the BSE.
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