Multibagger penny stock under Rs 30: This small-cap company bags a new order worth Rs 1,56,49,618.06 from Central Railway!

The shares of the company have gained more than 100 per cent in the last six months.

MIC Electronics Limited informed in the exchange filing that the company has received a Letter of Acceptance from Vijayawada Division of South - Central Railway Zone for Replacement of IP based integrated passenger information system at tenali station (TEL). The aggregate value of the work order is Rs 1,56,49,618.06. The order is to be completed in the next 12 months.

MIC Electronics Limited has also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 12.00 on October 03, 2022, to Rs 25.90 on September 29, 2023, an increase of about 110 per cent in a one-year holding period.

MIC Electronics is one of the global leaders in the design, development & manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment, and the development of Telecom software since 1988.

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MIC's flagship products are LED Video Displays, which have become an integral part of sports stadiums, transportation hubs, digital theatres and theme parks, advertisements, and public information displays.

Some of the major clients of the company are L&T Ltd, Indian Railways, RBI, HP, MTNL, SBI, P&G, LIC, Reliance industries ltd, Tata Teleservices, P&G, Hyderabad Racecourse, Coal India Ltd, Gujarat Science City, Vizag steel, IDBI bank, Bharat electronics, Air India Ltd, Andhra Pradesh Technology Services, and BSNL.

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