MIC Electronics Shares Skyrocketed After Work Order Win for Railway Ministry

MIC Electronics has informed the stock market that the company has received approval for fresh registration from the Ministry of Railways for emergency lighting systems in railway coaches. This means that MIC Electronics will now be able to deploy emergency lighting systems in railway coaches under the Ministry of Railways of the Government of India. According to the information given to the stock market, the company has received approval for an emergency lighting system for EOG-type LHB AC and NAC (non-AC) coaches.

On Monday, amid good growth in the stock market, the shares of MIC Electronics, with a market cap of Rs 1820 crore, registered a gain of 5 per cent and were trading at the level of Rs 86.35. MIC Electronics, which has given a return of 78 per cent to investors from the low level of Rs 48 on Monday, June 3, is a small-cap company working for the railways, whose shares have touched a 52-week high today.

The stock of MIC Electronics has given a return of 22 per cent to investors from the level of Rs 71 in the last 5 days, while in the last 6 months, it has given a return of 156 per cent from the level of Rs 33.80. MIC Electronics has received approval for fresh registration from the Ministry of Railways for emergency lighting systems in railway coaches.

The 52-week low of MIC Electronics shares is Rs 22.80. MIC Electronics shares have given a bumper return of 269 per cent to investors from the level of Rs 23.40 in the last 1 year. MIC Electronics shares have given a bumper return of 381 per cent to investors from the level of Rs 17.95 on 24 December 2021.

Earlier, the company received a letter of completion/installation certificate from the Ratlam Division of Western Railway Zone. The letter of competition is related to three projects - including the replacement of train display boards at 7 stations. The company has also stated that it has decided to issue equity shares of Rs 2 face value through qualified institutional placement (QIP). The board of directors of the company approved the issuance of the QIP issue at a floor price of Rs 48.30 from June 12. The company can give a discount of five per cent to investors on the floor price.

MIC Electronics is one of the world's leading companies in LED video displays, high-end electronics and telecom equipment. MIC Electronics has been in this business since 1988. MIC has experience in the design and development as well as manufacturing of LED displays. MIC Electronics' products include LED displays which have become a must-have for sports stadiums, transportation, digital theaters and theme parks, advertising and public information displays.