2,800 per cent returns: This multibagger micro-cap company receives order worth Rs 3.56 crore from Indian Railways; hits upper circuit & 52-week high!
The stock gave multibagger returns of 102 per cent in just 1 year, 1,860 per cent in 2 years and over 2,800 per cent in 3 years.
MIC Electronics Ltd is a global leader in the design, development & manufacturing of LED Video Displays, high-end electronic and telecommunication equipment and development telecom software, inform that the company has received a Letter of Acceptance from the Sambalpur Division of East-Coast Railway Zone – Indian Railways for provision of coach indicator board and train indicator board at various stations (JSGR and GPS Clock at MNGD, KRAR, HKG, BRPL, HSK) in relation to Amrit Bharat Work.
The aggregate value of the said work order is Rs 3,56,12,140.52 (Rs 3.56 crore) and will be completed in 6 months from LOI.
Previously, the company received an order worth Rs. 4.39 crores from the Delhi Division of Northern Railway Zone - Indian Railways. The order includes providing passenger amenities (Telecom) and expanding an information system to facilitate Divyangjan and utility shifting in connection with the Amrit Bharat Station scheme in various stations of Delhi Division.
Additionally, the company have announced its Quarterly Results (Q1FY24) wherein Revenue from Operations grew by 241.32 per cent from Rs 2.42 crore and net profit skyrocketed by 200 per cent from a net loss of Rs 1.24 crore in Q1FY23 to a net profit of Rs 1.24 crore in Q1FY24.
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MIC Electronics has a market cap of Rs 573.32 crore with a 5-year stock price CAGR of 54 per cent. Today, one of the Top Gainers on BSE, shares of MIC Electronics Ltd jumped 5 per cent upper circuit to Rs 25.89 per share from its previous closing of Rs 24.66. The stock also traded at a new 52-week high of Rs 25.89 per share.
The stock gave multibagger returns of 102 per cent in just 1 year, 1,860 per cent in 2 years and over 2,800 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.