Multibagger stock under Rs 20: This micro-cap company has received an order worth over Rs 8 crore from the Indian Railways!
The stock gave multibagger returns of 1,363 per cent in just 2 years and over 2,000 per cent in 3 years.
MIC Electronics Ltd informed that the company has received a letter from Nagpur Railway Division of Central Railway Zone – Indian Railways for supply, installation, testing and commissioning of telecom assets/passenger amenities at 7 stations of Nagpur Division under Amrit Bharath Scheme. The aggregate value of the said work order is Rs 8,37,15,853.10 and will be completed in 9 months from the date of the issue of the LOA.
On Friday, one of the Top Gainers on BSE, shares of MIC Electronics were locked in a 5 per cent upper circuit to Rs 19.75 per share from its previous closing of Rs 18.81. The stock has a 52-week high of Rs 20.95 and a 52-week low of Rs 10.86.
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 shares of the company saw a spurt in volume by more than 1.39 times on BSE.
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The company has a market cap of Rs 437.36 crore, according to the financials. 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. The company recently released its quarterly and annual results for the year ended March 31, 2023, where it reported positive numbers.
In a span of just 2 years, this stock surged from Rs 1.35 per share to Rs 19.75 per share, delivering extraordinary multibagger returns of 1,363 per cent and over 2000 per cent in 3 years. Investors should keep an eye on this micro-cap stock.