Wednesday, June 9, 2010

CMP / Reco Price : 38
Target : 80
Time Span : 1 Year

MIC Electronics Limited designs, develops, and manufactures high-tech electronic and telecommunication equipment. The Company's products include indoor and outdoor LED video display, electronic billboards, indoor/outdoor LED news tickers, and mobile outdoor video displays. MIC also develops telecom and networking software.
Whats Buzzing:
MIC Electronics announced that it has bagged an order worth Rs 8.56 crore from Pico Art International (Pico), a leader in brand activation, which is the event management company for the Common Wealth Games 2010.
MIC electronics is fundamentally strong, low on debt, consistent revenue/PAT and dividends paid out in last 3 years. Its currently trading at a P/E of 6.4 which is attractive as well. The management expects turnover of over 400 Cr for FY11 (Around 100% growth over FY10).