MIC Electronics shares surged 4% on Wednesday, February 18, marking the second consecutive day of gains despite challenging market conditions. According to reports from Mint, the stock hit the upper price band of ₹44.17 during intraday trading. This performance stood in stark contrast to the broader market sentiment, as the BSE Sensex lost almost 300 points during the same trading session and was last trading with a minor cut of 25 points.
The stock demonstrated strong investor interest with significantly elevated trading volumes. As reported by Mint, 4.11 lakh shares of MIC Electronics had changed hands as of 12:45 pm, compared with the two-week average of 59,000 shares. This represents a substantial increase in trading activity, indicating heightened market participation in the stock.
The small-cap stock has delivered impressive returns over the past month, gaining 11% despite broader market weakness. According to Mint reports, this performance has been supported by recent order wins and positive developments for the semiconductor industry. The Budget allocation of ₹40,000 crore for the semiconductor sector has provided additional momentum to the stock's recent gains.
