Multibagger penny stock under Rs 25: This micro-cap company receives multiple orders from Indian Railways; hits 52-week high!
The company receives total 18 orders worth Rs 61,21,73,610 from various subsidiaries of Indian Railways.
On Friday, one of the Top Gainers on BSE, shares of MIC Electronics were locked in a 5 per cent upper circuit to Rs 23.98 per share from its previous closing of Rs 22.84. The stock also traded at a new 52-week high of Rs 23.98 per share.
The stock is hitting back-to-back upper circuits and 52-week highs in recent trading sessions the company has received a total of 18 orders from various subsidiaries of Indian Railways in less than 3 months. The orders include work related to Signalling and telecom works; Supply, installation, testing & commissioning of telecom assets/passenger; Soft Upgradation/ improvement of Telecom Infrastructure; Integrated Passenger Information System (IPIS); Display boards; etc.
The aggregate value of the said 18 work orders is Rs 61,21,73,610 and the projects will be finished within a timeframe ranging from 3 to 24 months starting from the date the LOA is issued.
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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 shares of the company saw a spurt in volume by more than 2.43 times on BSE.
The company has a market cap of Rs 531.03 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.
Investors should keep an eye on this micro-cap stock, which delivered a 60 per cent return in just 6 months, multibagger returns of 1,640 per cent in 2 years, and over 2,300 per cent in 3 years.