MIRC Electronics hits upper circuit
By
Research Desk
about 11 years ago
MIRC Electronics seems to be in the limelight today morning, the stock has breached the upper circuit at Rs.5.39 and remains frozen at this 5% higher price. Market cap stands at Rs.76 crore.
The stock hit the upper circuit after the company announced that it would be raising funds up to Rs.33 crore through a rights issue.
The company continues to make losses and its loss in Q2FY14 was at Rs.23 crore, up from Rs.17 crore loss in Q1. It had ended FY13 with a loss at Rs.29 crore and it is expected to end current fiscal with only a higher loss.