Multibagger penny stock under Rs 50: This high-end electronic and telecommunication equipment company bags order worth Rs 1,76,94,831.87 from Indian Railways
The stock gave multibagger returns of 230 per cent in 1 year and over 5,250 per cent in 3 years.
MIC Electronics Limited has been awarded a contract by the Mysuru Division of the South-Western Railway Zone; Indian Railways to improve passenger amenities. This involves installing an integrated passenger information system at specific platforms within the Mysuru Division for a total value of Rs 1,76,94,831.87. The contract terms will be finalized upon execution, and it will be a domestic direct order completed within 6 months. No affiliated companies have any stake in the awarding entity, and the transaction is not considered a related party.
MIC Electronics has a market cap of over Rs 900 crore with a 3-year stock price CAGR of 263 per cent. Today, shares of MIC Electronics Ltd hit a 5 per cent lower circuit to Rs 40.71 per share from its previous closing of Rs 42.85 with an intraday high of Rs 42.85 and an intraday low of Rs 40.71. The stock’s 52-week high is Rs 53.80 and its 52-week low is Rs 11.50. In the recent trading sessions, the stock has been hitting back-to-back lower circuits.
MIC Electronics Ltd., founded in 1988, is a leading manufacturer of LED displays (indoor, outdoor, mobile), lighting solutions (indoor, outdoor, solar), telecom equipment, and software. They also produce medical equipment like oxygen concentrators and batteries. Headquartered in India, MIC exports its products globally and has a presence in the USA, Australia, UK, and other countries.
The company in its Quarterly Results (Q3FY24) wherein revenue from operations grew by 1,310 per cent from Rs 2.42 crore and net profit increased by 382 per cent from a net profit of Rs 2.71 crore in Q3FY24 compared to Q3FY23.
The stock gave multibagger returns of 230 per cent in 1 year and over 5,250 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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