Multibagger stock below Rs 20: This micro-cap company bags order worth of Rs 1,74,20,136!

From Rs 0.74 per share to Rs 16.94 per share, this stock gave multibagger returns of 2,189.20 per cent in just 2 years.

On Thursday, shares of MIC Electronics zoomed 10 per cent upper circuit to Rs 16.94 per share from its previous closing of Rs 15.40. The shares of the company saw a spurt in volume by more than 4.15 times on BSE hitting back-to-back upper circuits.  

MIC Electronics Limited informed that the company has received a letter of acceptance from Surendranagar Junction, Bhakti Nagar, Hapa and Okha Stations of Rajkot Division of Western Railway - Indian Railways. The aggregate value of the said work order is Rs 1,74,20,136.    

Additionally, the company participated in Railway tenders and received LOAs worth Rs 29,07,65,117 till date and further has been confirmed by various Railway zones as L1 (Lowest Bid) for Rs 76,62,46,174 worth of orders.  

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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 375.13 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 the rest is owned by the general public (25.37 per cent) as of March 2023.   

From Rs 0.74 per share to Rs 16.94 per share, this stock gave multibagger returns of 2,189.20 per cent in just 2 years. Investors should keep an eye on this micro-cap stock.