Repo Rate cut of 25 bps is quite an encouraging move by RBI though it was mostly on expected lines. This should increase the consumption positively and also overall sentiments of the people. Positive sentiment on the economy generally encourage people to spend on necessities like televisions, air conditioners and washing machines etc. This will surely improve the liquidity conditions facing by the economy. Moreover, downward revision in inflation targets for Q4 and next year suggest recovery in overall economic growth. We believe that these steps will certainly help in picking-up overall consumer durables demand. This also an indication that FY20 would be low interest rate regime, if inflation continues to be well within 4%.
Shares of MIRC ELECTRONICS LTD. was last trading in BSE at Rs.22.35 as compared to the previous close of Rs. 22.55. The total number of shares traded during the day was 18500 in over 76 trades.
The stock hit an intraday high of Rs. 23 and intraday low of 22.1. The net turnover during the day was Rs. 414320.