Rs 13,31,32,972 orders from Indian Railways: This multibagger penny stock gains 250 per cent returns in just 6 months; hit back-to-back upper circuits & 52-week highs!

The stock gave multibagger returns of 250 per cent in just 6 months, 3,135 per cent in 2 years and over 6,000 per cent in 3 years.

MIC Electronics Ltd informed that the company has bagged multiple orders worth Rs 13,31,32,972 from Indian Railways under the “Amrit Bharat Station Scheme” (ABSS). Here are the details:-

Order No – 1: The company has bagged an order worth Rs 1,56,49,618.06 for the replacement of IP IP-based integrated passenger information system at Tenali Station (TEL). The order will be completed within 12 months.

Order No – 2: The company has bagged an order worth Rs 2,70,02,653.65 for building new platforms, improving existing ones, and upgrading facilities like waiting halls and passenger lifts. It will also improve security and provide passengers with more information about their trains. The order will be completed within 6 months.

Order No – 3: The company has bagged an order worth Rs 3,38,12,890.49 for the provision of telecom arrangements at, 7 no stations in connection with the provisions of the foot over bridge (12m) in Hyderabad Division. The order will be completed within 12 months.

Order No – 4: The company has bagged an order worth Rs 2,11,63,833.61 for the provision of telecom arrangements at ABBS Stations, in connection with the works for the provision of lifts (11 Nos) and escalators (7 Nos) of Hyderabad Division. The order will be completed within 12 months.

Order No – 5: The company has bagged an order worth Rs 3,55,03,975.84 for the provision of minimum essential telecom amenities at Nizamabad, Kurnool City, Malakpet, Yakatpura, Huppuguda, Sri Balabramareshwara Jogulamba Stations. The order will be completed within 12 months.

MIC Electronics Ltd has a market cap of Rs 945.35 crore with a 5-year stock price CAGR of 90 per cent. On Wednesday, shares of MIC Electronics Ltd jumped 5 per cent upper circuit to Rs 42.69 per share. The stock also made a new 52-week high of Rs 42.69 per share. In the recent trading sessions, the stock has been hitting back-to-back upper circuits. The shares of the company saw a spurt in volume by more than 2.80 times on BSE.

The company in 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.

The stock gave multibagger returns of 250 per cent in just 6 months, 3,135 per cent in 2 years and over 6,000 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.