New Delhi, Dec. 24 -- Shares of MIC Electronics, a small-cap stock under Rs.100, hit the 5 per cent upper circuit of Rs.86.76 on the BSE in trade on Tuesday, December 24, driven by strong investor sentiment and favourable developments surrounding the company.

MIC Electronics, on December 23, announced that the Competent Authority approved the company's Capacity cum Capability Assessment (CCA) for GPS location-based Public Address & Passenger Information System (PAPIS) and LED destination boards for AC and Non-AC ICF and LHB coaches. These approvals follow the stringent specifications outlined in RDSO/CG-18001 (Rev.2), the company said in an exchange filing.

Around 11 am, the stock was trading at Rs.86.64 on the BSE, up 4.85 per cent, ov...