Multibagger stock under Rs 20: This micro-cap company bags order worth Rs 4,95,88,201!

From Rs 0.92 per share to Rs 16.82 per share, this stock gave multibagger returns of 1,728 per cent in just 2 years.

On Thursday, shares of MIC Electronics zoomed 4.41 per cent to Rs 16.82 per share from its previous closing of Rs 16.11. The stock has a 52-week high of Rs 20.47 and a 52-week low of Rs 10.86.

MIC Electronics informed that the company has received a letter of acceptance Karimnagar, Bhadrachalam Road, Khammam, Madhira, Mahabubabad, Warangal, Mancherial, Ramagundam, Peddapalli, Kazipet, Jangaon, Yadadri - Secunderabad Division of South-Central Railway - Indian Railways.

 The aggregate value of the said work order is Rs 4,95,88,201 and will be completed in 12 months from the date of the issue of the LOA.

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

From Rs 0.92 per share to Rs 16.82 per share, this stock gave multibagger returns of 1,728 per cent in just 2 years. Investors should keep an eye on this micro-cap stock.