Shares of a smallcap company rose on Wednesday after the company said its board will meet later this week to consider a proposal for acquiring a Singapore-based company.
In a regulatory filing, MIC Electronics said the board meeting is scheduled for Friday, July 25, 2025.
"...To discuss and approve the proposal for the acquisition of a Singapore-based company and to consider preliminary memorandum of understanding, agreements and related documentation," MIC Electronics said in the filing.
Founded in 1988, MIC Electronics is a smallcap firm engaged in the design, development and manufacturing of LED video displays and lighting products. The company also provides services to Indian Railways.
Shares of MIC Electronics surged up to 1 percent in early trade to quote at Rs 52.87 per share on the NSE.
The stock has delivered strong returns in recent years. It has gained nearly 30 percent over the past two years, while rising 40 percent in three years.
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