MIRC Electronics seems to be in the limelight today morning, the stock has breached the upper circuit at Rs.5.39 and remains frozen at this 5% higher price. Market cap stands at Rs.76 crore.

The stock hit the upper circuit after the company announced that it would be raising funds up to Rs.33 crore through a rights issue.

The company continues to make losses and its loss in Q2FY14 was at Rs.23 crore, up from Rs.17 crore loss in Q1. It had ended FY13 with a loss at Rs.29 crore and it is expected to end current fiscal with only a higher loss.