MIC Electronics allotted 50 acres in Fab City

MIC Electronics Ltd has announced that the Andhra Pradesh Industrial Infrastructure Corporation Ltd (a wholly owned undertaking of Government of Andhra Pradesh) has developed a SEZ under the title Fab City SPV (India) Ltd, which is situated around 5 kms. from new airport at Shamshabad, and 22kms. from Hyderabad for promoting Semi-conductor industries. At the request made by the Company for setting up of manufacturing unit for LED True Colour Displays, LED Lighting solutions and Solar based LED Lighting Products, M/s APTIC allocated, 50 acres of land on lease basis in this SEZ to MIC Electronics Ltd vide their letter dated June 02, 2008.MIC Electronics Ltd is planning to proceed with construction in this site immediately after completing the documentation work.The stock was trading at Rs.713.90, up by Rs.4.35 or 0.61%. The stock hit an intraday high of Rs.727 and low of Rs.700.The total traded quantity was 7426 compared to 2 week average of 23487.