Penny stock update: This micro-cap company bags a tender from Indian Railways!

On Monday, shares of the company gained about 3 per cent.

On April 4, 2023, MIC Electronics Limited informed in the exchange filing that the company has been awarded the tender for the provision of replacement of an overaged Integrated Passenger Information System (IPIS) at MTJ Station of Agra Division. The value of the said tender is Rs 3,16,08,994.34. 

MIC Electronics is a global leader in the design, development & manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment and the development of Telecom software since 1988. 

MIC's flagship products are LED Video Displays, which have become an integral part of sports stadiums, transportation hubs, digital theatres and theme parks, advertisements, and public information displays. 

Some of the major clients of the company are L&T Ltd, Indian Railways, RBI, HP, MTNL, SBI, P&G, LIC, Reliance industries ltd, Tata teleservices, P&G, Hyderabad Racecourse, Coal India ltd, Gujarat Science City, Vizag steel, IDBI bank, Bharat electronics, Air India Ltd, Andhra Pradesh Technology Services, and BSNL. 

On Monday, the stock opened at Rs 12.42, with a high and low of Rs 12.42 and Rs 12.03. The stock closed trading at Rs 12.16, up by 2.79 per cent over its previous close of Rs 11.83. 

The stock has a 52-week high of Rs 19.70 and a 52-week low of Rs 10.86. The company has a market capitalization of Rs 271 crore.