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LED stock MIC Electronics share price hit its 5% upper circuit of ₹33.23 on BSE on Wednesday, March 25 following broader market gains on Dalal Street. Moreover, the company also informed stock exchanges that its board will meet on March 30, 2026, to consider a series of major corporate actions that could significantly alter the company’s structure and business direction.

The Indian stock market benchmarks — Sensex and Nifty 50 — extended gains to a second consecutive session today after clocking a strong surge of nearly 2% each amid reports of positive developments between the US and Iran, which are cheering the market.

Sensex jumped over 1,200 points, or 1.7%, to an intraday high of 75,332, while Nifty 50 rose over 400 points, or 1.8%, to the day's high of 23,318. US President Donald Trump claimed Washington DC and Tehran have “major points of agreement” and ordered a five-day suspension of US strikes on Iranian energy infrastructure, raising hopes of a diplomatic breakthrough.

Israeli media on Monday claimed that the US has set April 9 as a potential date to end the war against Iran.

"Hope is returning to the market with indications of de-escalation in the conflict. Remarks from President Trump and from the Iranian regime indicate that the conflict might end soon. Particularly, the reiteration from Iran that ‘non-hostile ships can transit the Strait of Hormuz’ is good news that will mitigate India’s energy concerns," VK Vijayakumar, Chief Investment Strategist, Geojit Investments, noted.

According to the exchange filing, in the March 30 meet, the MIC Electronics board will consider acquiring an 89.65% stake in Neo Semi SG Pte. Ltd., Singapore, through a share swap arrangement, and a 43.05% stake in Refit Global Private Ltd through a related preferential issue of shares on a non-cash basis.

The company will also discuss an internal restructuring move involving the transfer of its Lighting Division and Medical and Other Appliances Division to subsidiary MICK Digital India Ltd by way of a slump sale. In addition, MIC Electronics may approve the transfer of its 40% stake in MICK Digital India Ltd to LED India Private Ltd.

Another notable agenda item is the proposed change in designation of Deepayan Mohanty from Independent Director to Non-Executive and Non-Independent Director, subject to shareholder approval.

The small-cap stock has been under pressure recently, tanking 42% in the last 1 year and 45% in the past 6 months. It has also lost 28% in the last 3 months and 17% in the past 1 month.

Despite the upper circuit today, the stock is still 60% away from its 52-week high of ₹82.82, hit in September 2025. Meanwhile, it touched its 52-week low of ₹31.22 earlier this week, on March 23, 2026.

However, in the long term, it has given multibagger returns, soaring over 1000% in 5 years.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience.

Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism.

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