The announcement of a revolutionary 42V/3A EV battery charger by MIC Electronics boosts the company’s financial performance and draws in investors, leading to a 10% stock rise. With its emphasis on environmentally friendly transportation, the company is well-positioned to make major advancements in the electric car sector.
The price of MIC Electronics’ shares jumped 10% to Rs 42.5 on the BSE, demonstrating an impressive level of market confidence. This surge comes after the share price increased by an astounding 235.2% over the last year and an outstanding 18.5% over the last 30 days. In the financial arena, MIC Electronics is generating headlines thanks to its market capitalization of Rs 9,420.33 m and EPS of Rs 0.7 in the most recent financial year.
The invention of a 42V/3A electric vehicle (EV) battery charger for e-bikes and two-wheelers is what prompted MIC Electronics to report a rise in its stock price. With its planned March introduction, this ground-breaking invention promises to completely transform the EV industry. 15 lakh shares have changed hands as a result of the news, significantly more than the 7 lakh shares that were traded on a one-month average.
Outstanding MIC Electronics Financial Outcomes
After posting a net loss of Rs 96 lakh in the previous year, MIC Electronics recently announced a net profit of Rs 2.71 crore for the December quarter. This is a significant improvement. Sales for the company increased significantly as well, coming in at Rs 17.5 crore in Q3 as opposed to Rs 1.24 crore during the base period. Investor interest in the company has evidently increased despite the company’s decision not to declare a dividend for the fiscal year 2023.
MIC Electronics is a firm to keep an eye on in the electric vehicle (EV) sector because of its dedication to innovation and expansion as the globe shifts to more environmentally friendly forms of transportation. This growing trend seems certain given the company’s recent financial success and the excitement surrounding its new EV charger.
