Heavy buying: Back-to-back upper circuit in this multibagger penny stock; gains over 170 per cent in a year!

Shares of the company have gained about 90 per cent in the last six months.

Shares of MIC Electronics Limited were locked in the upper circuit on Monday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained about 90 per cent. The stock also made a new 52-week high today.

Recently, MIC Electronics Limited secured a new order worth Rs 3,04,95,149.54 from the Firozpur Division of the Northern Railway Zone. This project involves supplying coach guidance display boards for major stations within the Firozpur division. Additionally, MIC Electronics received a Letter of Completion for the DWK PF-1 CGDB and IPIS System work at Hapa station, completed for the Rajkot Division of the Western Railway Zone.

The company posted strong Quarterly Results. The revenue of the company for Q4FY24 stood at Rs 22.96 crore which increased by 674.73 per cent YoY. The operating profit of the company stood at Rs 6.28 crore, while the PAT of the company stood at Rs 49.59 crore, which increased by 1941.62 per cent YoY.

MIC Electronics Limited (MIC) is engaged in manufacturing light emitting diode (LED) lighting solutions. The company is engaged in the development, production and sale of video and animation displays and text and graphic displays. It also offers a variety of indoor and outdoor video walls for rent or lease. The stock has also delivered multibagger returns of about 170 per cent in the last one year.

The stock has shown tremendous growth, and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.