Shares of MIC Electronics, a Hyderabad-based maker of LED display systems and electronic equipment, are in focus as the company has announced the receipt of a fresh contract valued at approximately Rs 1.46 crore from the Firozpur Division of Northern Railway. The stock opened in green at Rs 42.37 against the previous close of Rs 42.09 on the BSE. Later, it touched the intraday high of Rs 42.76 and a low of Rs 41.55. Last seen, it was trading at Rs 41.80 with a dip of 0.69 per cent, and the market cap of the company stood at Rs 1,006.71 crore.
The stock's 14-day relative strength index (RSI) is 53.18. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Technically, the stock trades higher than the 5-day and 20-day moving averages but lower than the 50-day, 100-day and 200-day moving averages.
Order win from Northern Railway
The company has received a Letter of Acceptance from Firozpur Division, Northern Railway Zone of Indian Railways. The order involves the provision of Coach Guidance and Public Address (PA) systems at the SVDK (Shri Mata Vaishno Devi Katra) and SINA (Srinagar) stations. This domestic contract is slated for execution within three months.
Stock market today
Equity benchmark indices Sensex and Nifty extended their winning run for the third straight session on Tuesday, tracking positive trends in Asian markets and sustained foreign fund inflows.
The 30-share BSE Sensex climbed 247.01 points, or 0.29 per cent, to 84,312.76 in early trade.
The 50-share NSE Nifty rose 80.25 points, or 0.31 per cent, to 25,947.55.
Meanwhile, foreign institutional investors bought equities worth Rs 2,254.64 crore on Monday, according to exchange data.
In Asian markets, Japan's Nikkei 225 index, Hong Kong's Hang Seng, and South Korea's Kospi were trading higher, while Shanghai's SSE Composite index is trading flat.
