Mirc Electronics is the company that owns and sales electronic items under the brand name "Onida".
Facing huge financial cost, the company raised money through right issue to existing shareholders at a price of Rs.6 per share. The allotment took place just few days back and company intends to repay
the debts and become debt free. At the time of allotment company's shares were quoting at Rs.7.60. We expect the price to reach 10 in short to medium term which is 31.60% of the current price of Rs.7.60 just in the beginning.
Post debt free status all will depend on the company's future product placements and sales. We shall return then for our further review on the same. For now we recommend strong buy with above target.
Facing huge financial cost, the company raised money through right issue to existing shareholders at a price of Rs.6 per share. The allotment took place just few days back and company intends to repay
the debts and become debt free. At the time of allotment company's shares were quoting at Rs.7.60. We expect the price to reach 10 in short to medium term which is 31.60% of the current price of Rs.7.60 just in the beginning.
Post debt free status all will depend on the company's future product placements and sales. We shall return then for our further review on the same. For now we recommend strong buy with above target.
