MIC Electronics Limited (MICEL), a company designing and manufacturing electronic displays and telecommunications equipment, saw its shares hit the 5% upper circuit, reaching a high of ₹86.68 per share, on Tuesday as it received approval for Capacity cum Capability Assessment (CCA) for the GPS Location-based Public Address & Passenger Information System (PAPIS) and LED Destination Boards for AC and Non-AC ICF and LHB Coaches of the Indian Railways.
The Indian Railways use two types of passenger coaches across the various routes of the country, namely, ICF (Integral Coach Factory) and LHB (Linke-Hofmann-Busch). These coach types differ in terms of manufacturing technology, seating capacity, comfort, safety, and speed. Over the last two decades, both types of coaches have been integral to the railway network and each serves a distinct purpose and operational requirements.
MIC Electronics Limited (MICEL) specialises in the design, development, and manufacturing of LED video displays, high-end electronic and telecommunication equipment, and telecom software. The company offers a range of products, including LED lighting, LED displays, oxygen concentrators, and batteries. MICEL's LED displays serve various applications, such as sports stadiums, transportation hubs, digital theaters, theme parks, advertisements, and public information systems.
On Tuesday, the shares of MIC Electronics Limited closed at ₹86.40 per share, indicating 4.65% gains, as compared to the previous close of ₹82.56 per share on the National Stock Exchange.
Summary:
MIC Electronics hits upper circuit on receiving Capacity cum Capability Assessment (CCA) for the GPS Location-based Public Address & Passenger Information System (PAPIS) and LED Destination Boards for AC and Non-AC ICF and LHB Coaches of the Indian Railways.
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