Technically, the counter trades higher than the 20-day, 50-day, 100-day and 200-day moving averages but lower than the 5-day moving averages.
Shares of Hyderabad-headquartered MIC Electronics Limited (MICEL) gained over 5 per cent even as the market traded in the red amid Rs 1.75 crore order win from the Indian Railways. The stock started today’s trading session at Rs 70.55 and gained further to touch the high of Rs 73.76, representing a gain of 5.7 per cent from the closing price of the last trading session. The stock has gained after 2 days of consecutive falls. However, the stock fell amid profit booking and dipped to touch the low of Rs 68.82. Last seen, it was trading at Rs 69.99, with a gain of 0.36 per cent. The market cap of the company stood at Rs 1,686.84.ย
Technically, the counter trades higher than the 20-day, 50-day, 100-day and 200-day moving averages but lower than the 5-day moving averages.
The stock’s 14-day relative strength index (RSI) is 64.45. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Receives Order From Indian Railways
MIC Electronics has secured two letters of acceptance (LoA) worth Rs 1.76 crore from Indian Railways, Sambalpur Division, Odisha, and Indian Railways, Integral Coach Factory, Chennai. The Sambalpur Division order is for the shifting of existing coach indication board systems and auto announcement systems at Amrit Bharat stations. The contract is valued at Rs 1.20 crore and will be executed within six months.
Share Market Today
Benchmark equity indices Sensex and Nifty recorded marginal gains in early trade on Monday, but later faced highly volatile trends and were quoting flat amid profit-taking after a sharp rally last week.
Markets are awaiting the outcome of this week’s US Federal Reserve policy meeting.
The 30-share BSE Sensex went up by 93.81 points to 81,998.51 in early trade. The 50-share NSE Nifty edged higher by 24.45 points to 25,138.45. Later, the BSE benchmark quoted 10.06 points down at 81,904.31, and the Nifty traded 12.65 points lower at 25,099.90.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)