India's MIC Electronics turns positive on work order win

MIC Electronics

10/06/2024 10:55

** Shares of MIC Electronics  MELC.NS  rise 1% after getting
new work order; stock was trading ~2% lower before the news 
    ** Co says it received letter of acceptance for work order
worth 30.5 mln rupees ($365,323.28)
    ** Stock set to rise for a fifth straight quarter
    ** Stock has been above its 200-day SMA since May 2023,
indicating bullish sentiment
    ** Stock up ~47% in 2024 so far, after jumping ~2.5x in 2023





($1 = 83.4877 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))