Multibagger Stock Below Rs 100 Gets Work Order From Northern Railway Zone; Check Company Name

Since 1988, MIC Electronics has been a prominent global corporation focused on the design, development, and production of LED video displays, premium electronic and telecommunication equipment, and telecom software development. With its headquarters located in Hyderabad, India, it has a national presence through a broad network of marketing, sales, and service support facilities spread throughout all Indian metropolises.

The company on Monday informed stock exchanges that it has received a Letter of Acceptance (LoA) from the Lucknow Division of the Northern Railway Zone for the provision of an Integrated Passenger Information System at PRG, PYGS, and PFM Stations in c/w Mahakumbh-2025. The aggregate value of the said work order is Rs. 2,54,73,441.45/-.

The order will be executed by 9 months from the date of issue and no, none of the promoter/ promoter group / group companies have any interest in the entity that awarded the order, as per MIC Electronics.

Recently, the company also said in a stock exchange filing that the Board of Directors "Fixed the date of 36th Annual General Meeting (AGM) of the Company on Tuesday, August 27, 2024 at 11.00 A.M. (IST) at the Registered Office of the Company and approved the draft Notice of 36th AGM. The Register of Member and Share Transfer Books of the Company will remain closed from Saturday, August 24, 2024 to Tuesday, August 27, 2024 (both days inclusive) and the Record date will be Friday, August 23, 2024 for taking record of the Members of the Company for the purpose of 36th Annual General Meeting of the Company for the F.Y.2023-24."

In the quarter under review, the firm generated net income of Rs 10.93 Cr, increasing 52.22% YoY from Rs 7.18 Cr in the same period of the previous fiscal year. Net expenses for the firm increased by 50.58% YoY from Rs 5.95 Cr in Q1FY24 to Rs 8.96 Cr in Q1FY25. In Q1FY25, MIC Electronics recorded a net profit of Rs 1.96 Cr, up 59.34% YoY from Rs 1.23 Cr in the same period the previous year. To generate funds, MIC Electronics recently issued a Qualified Institutional Placement (QIP) issue. The share price of this QIP was Rs 48.30.

One of Dalal Street's multibagger stocks is MIC Electronics, which has gone up 171% in a single year and 132% year to date (YTD) so far in 2024. Over the past half-year, the stock has gone up by 57.31%. With a market valuation of Rs 1,867.84 Cr, the shares of MIC Electronics were seen trading at Rs 77.90 each on the BSE on Monday.