Announced Fri, 31 Jul · 16:49 IST
Board approves 38th AGM notice, plans defence subsidiary
MICEL · price
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Price reaction · full curve 14 horizons · vs prior close
-2.1%1-day move
₹38.40
prior close
₹39.50
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.8-3.0-2.6-1.8-2.1-2.9-2.4-3.6-3.3-6.0-5.3-2.4——
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AI summary
Board met on July 31, 2026 and approved the 38th AGM notice for September 16, 2026. Record date for voting eligibility is September 10, with e-voting open September 13 to 15. Independent Director Mr. Ravinder Reddy Surakanti resigned citing personal commitments. Board approved incorporating a wholly owned subsidiary focused on defence equipment, technology and services with an initial investment of about 10 lakhs. Several board committees were also reconstituted.
Likely market impact
AGM notice and committee reconstitution are routine. New defence subsidiary signals diversification, though the initial investment size is very small.