Multibagger small-cap stock MIC Electronics jumps 150% year to date. Anand Rathi sees 10% more upside
- Stock Market Today: Multibagger small-cap stock MIC Electronics Ltd has gained 150% year to date. Anand Rathi Research sees 10% more upside and has given target price of ₹90. Check details
Stock Market Today: Multibagger small-cap stock MIC Electronics Ltd has gained 150% year to date. Anand Rathi Research sees 10% more upside
Stock Price Movement
MIC Electronics Share price that is now trading close to ₹84 levels though has corrected from highs of ₹114-115 seen in September 2024 , nevertheless is still up multifold from ₹32 levels seen in December 2024.
MIC Electronics share price having risen almost 150% year to date has given Multibagger returns to the investors
MIC Electronics share price opened at ₹84.10 on the BSE on Friday, slightly higher than previous days closing price of the share at ₹84 . The MIC Electronics share price thereafter gained to highs of ₹84.91.
About MIC Electronics
Light-emitting diode (LED) video displays and lighting products are designed, developed, and manufactured by MIC Electronics Limited, an Indian firm. Automobiles, medical equipment, and LED products make up the company's three business segments.
The analysts remains Bullish on the Multibagger stock MIC Electronics
Target price for MIC Electronics
For MIC Electronics Anand Rathi Research expects another 10% upside. Anand Rathi Research has given a time frame of 1 month whereafter it sees MIC Electronics achieving a target price of ₹90.
After peaking near the 115 mark in September 2024, the stock has undergone a sharp correction, dropping approximately 34 points—equivalent to a 29% decline, said Anand Rathi Research. This substantial pullback as per the brokerage has brought the price down to a critical technical level, where it has formed Bullish BAT pattern between S3 & S4 camarilla pivot which aligns with previous demand zone On Daily Chart.
These technical signals as per Anand Rathi Research suggest that the stock could witness a buildup of bullish momentum in the coming weeks. From a strategic standpoint, investors may consider buying or accumulating the stock within the 81-83 range, with a potential upside target of 90. To manage risk, it is recommended to maintain a stop-loss at 77.5 on a daily closing basis.
Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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