Multibagger stock below Rs 20: This micro-cap company bags multiple orders worth of Rs 4,06,85,915!

From Rs 0.67 per share to Rs 12.50 per share, this stock gave multibagger returns of 1,765.67 per cent in just 2 years.

On Wednesday, shares of MIC Electronics zoomed 1.55 per cent to Rs 12.50 per share from its previous closing of Rs 12.31. At 03:30 pm. Shares of the company ended in the green, up 0.97 per cent to Rs 12.43 per share.   

MIC Electronics informed that the company has received letter of acceptances for provision of integrated passenger information system (IPIS) from Narkatiaganj, Bettiah, Sakri and Sugauli Stations of Samastipur Division of Bihar, East Central Railway Zone - Indian Railways. The aggregate value of the said work-order is Rs 4,06,85,915.   

MIC Electronics is a global leader in the design, development & manufacturing of LED Video Displays, high-end electronic and telecommunication equipment and development telecom software.  

The company has a market cap of Rs 275 crore, according to the financials. The net sales rose by 40x and net profit rose by 3x in FY22 over FY21. The maximum stake of the company is owned by the promoters (74.63 per cent) and rest is owned by general public (25.37 per cent) as of March 2023.   

From Rs 0.67 per share to Rs 12.50 per share, this stock gave multibagger returns of 1,765.67 per cent in just 2 years. Investors should keep an eye on this micro-cap stock.