Penny Stock Bags Orders From Indian Railways, Shares Locked In Upper Circuit

Penny stock priced under Rs 25, MIC Electronics Ltd informed BSE that it bagged orders approximately 16 crore from Indian Railways from June 9 to June 13, 2023. Last trading price of MIC Electronics share is Rs 20.73 on BSE. Soon after the announcement, MIC Electronics stock hit 5% upper circuit. MIC shares gave return of 1329% in last 2-years only. Check details below:

Order Details From Indian Railways:
1) According to the BSE filing of the company dated June 13 that it has received Letter of Acceptance from Nagpur Railway Division of South East Central Railway Zone for Signaling and Telecom Works in connection with Station Development Works under Amrit Bharat Station Scheme. The aggregate value of the said Work-Order is Rs. 3,97,04,413.32/- (Rupees Three Crore Ninety-Seven Lakhs Four Thousand Four Hundred and Thirteen Rupees - Thirty-Two Paisa Only).

2) Earlier on June 12, it informed BSE that it has received Letter of Acceptance from Nagpur Railway Division of Central Railway Zone for Supply, Installation, Testing, Commissioning of Telecom assets/Passenger amenities at 7 Stations of Nagpur Division under Amrit Bharath Scheme The aggregate value of the said Work-Order is Rs. 8,37,15,853.10/- (Rupees Eight Crore Thirty-Seven Lakhs Fifteen Thousand Eight Hundred and Fifty-Three Rupees - Ten Paisa Only).

3) It informed on June 9 in its regulatory filing that it received Letter of Acceptance from Sonpur Railway Division of East-Central Railway Zone for providing Soft Upgradation/ improvement of Telecom Infrastructure. The aggregate value of the said Work-Order is Rs. 2,69,19,017.69/- (Rupees Two Crore Sixty-Nine Lakhs Nineteen Thousand and Seventeen Rupees - Sixty Nine Paisa Only).

4) MIC Electronics in its June 9 exchange filing stated that it received Letter of Acceptance from Sonpur Railway Division of East-Central Railway Zone for providing Soft Upgradation/ improvement of Telecom Infrastructure at 03 Amrit Stations. The aggregate value of the said Work-Order is Rs. 1,02,31,581.59/- (Rupees One Crore Two Lakhs ThirtyOne Thousand Five Hundred and Eighty-One Rupees and Fifty-Nine Paisa Only). Additional details of

MIC Electronics Ltd Stock Performance & Return: Last trading price of MIC Electronics share is Rs 20.73 per share with intraday surge of 4.96%. Its 52-week high price is Rs 20.95 per share and 52-week low price is Rs 10.86 per share, respectively. Its market capitalisation is Rs 459.06 crore. MIC Electronics share witnessed a rally of 73% in last 3-months, 34% in last 1-year, 1329% return in last 2-years, and a huge return of 2129% in last 3-years.

MIC Electronics About: MIC Electronics Limited is engaged in the designing, developing, and manufacturing of high-tech electronic and telecommunication equipment. Its products include indoor and outdoor LED video display, electronic billboards, indoor/outdoor LED news tickers, and mobile outdoor video displays, among others. It also develops telecom and networking software.

Disclaimer: The stock bagged orders from Indian Railways and shares locked in upper circuit. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.