New Delhi, Sept. 4 -- Shares of MIC Electronics popped 20% during Thursday's intraday trade, September 4, hitting a 12-week high of Rs.61.74 apiece, providing some relief for the shareholders, as it had been under selling pressure in recent weeks.

The improved sentiment came after the GST Council on Wednesday slashed the GST rates on air conditioners and televisions to 18% from 28%. Analysts see this, along with cuts in other consumer durables, as a welcome reform that could boost demand for electronics companies.

MIC Electronics Ltd is in the business of LED products, medical & other appliances, and automobiles. The LED display market in India is growing rapidly, supported by government initiatives like Smart Cities and Digital India. ...