Multibagger stock under Rs 20: This micro-cap company has received an order worth Rs 3.95 crore from the South-Central Railways!

The stock gave multibagger returns of 1,469 per cent in just 2 years.

MIC Electronics Ltd informed that the company has received a letter of acceptance from the Secunderabad Railway Division of the South-Central Railway Zone. The aggregate value of the said Work-Order is Rs 3,95,40,876.31 (Rupees three crore ninety-five lakhs forty thousand eight hundred and seventy-six rupees thirty-one paisa only) and will be completed in 12 months from the date of the issue of the LOA.

On Friday, shares of MIC Electronics zoomed 5 per cent upper circuit Rs 2095 per share from its previous closing of Rs 19.96. At the closing bell, shares of the company were trading at Rs 20.05 per share, up 0.45 per cent.

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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 444 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 0.92 per share to Rs 20.95 per share, delivering extraordinary multibagger returns of 1,469 per cent. Investors should keep an eye on this micro-cap stock.