Back-to-back upper circuit: Heavy buying witnessed in this multibagger penny stock; hits fresh 52-week high!

Back-to-back upper circuit: Heavy buying witnessed in this multibagger penny stock; hits fresh 52-week high!

Praveenkumar Yadav
/ Categories: Trending, Mindshare

The stock has gained more than 50 per cent in the last six months.

Shares of MIC Electronics Limited were locked in the upper circuit on Thursday, gaining 5.00 per cent. The stock is locked in upper circuit from past two days. In the last five trading sessions, the stock has gained about 20 per cent. On Thursday, the stock also made a fresh 52-week high at Rs 22.84.

In the last one week, the company has won multiple new orders. Recently, the company received Letter of Acceptance from Sonpur Railway Division of East-Central Railway Zone for providing Soft Upgradation & improvement of Telecom Infrastructure at 03 Amrit Stations – Khagaria, Sahebpur Kmal Junction and Lakhminia Railway Stations. The value of the said tender is Rs 1,02,31,581.59.

On 13th June, the company received another order worth Rs 3,97,04,413.32. The company received Letter of Acceptance from Nagpur Railway Division of South East Central Railway Zone for Signalling and Telecom Works in connection with Station Development Works under Amrit Bharat Station Scheme at Nainpur (NIR), Chhindwara (CWA), Seoni (SEY) and Mandlafort (MFR) Stations in Nagpur Division of SECR.

Today, the stock opened at Rs 22.40, with a high and low of Rs 22.84 and Rs 22.20, respectively. The stock closed trading at Rs 22.84, up by 4.99 per cent. The stock has given multibagger returns of over 160 per cent in the last three years. The stock has shown tremendous growth, and investors should keep a close eye on this stock.   

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