Shares of Hyderabad-based MIC Electronics Limited are in focus today as the company has informed exchanges that it has secured a letter of acceptance (LoA) from the Tirumala Tirupati Devasthanam (TTD), Tirupati. The company said that the order needs to be executed within two months from the date of issue of the letter of acceptance.
The aggregate value of the said project is Rs 56.95 lakh and involves providing LED display boards to display consolidated information to the pilgrims at Tirumala.
“The Company has received a Letter of Acceptance from the Tirumala Tirupati Devasthanam (TTD), Tirupati for Providing LED display boards to display consolidated information to the pilgrims at Tirumala. The aggregate value of the said work order is ₹ 56,95,215.94 (Rupees Fifty Six Lakh Ninety Five Thousand Two Hundred Fifteen and Paise Ninety Four Only),” the company said in an exchange filing, MIC Electronics Limited said.
Stock Price Today
Meanwhile, shares of MIC Electronics opened in the green today at Rs 70.80 against the previous close of Rs 67.98. It gained further to touch the intraday high of Rs 70.97 but fell amid selling pressure to touch the intraday low of Rs 66.
The stock's 52-week high is Rs 114.74, and its 52-week low is Rs 48.10. The company's market cap is Rs 1,617.43.
Share Price History
The counter has given a multibagger return of 255 per cent in two years and 310 per cent in three years, and a whopping 7253.85 per cent in five years. However, it has corrected 28.94 per cent in six months and 21.99 per cent so far this year.
Wins Order From Indian Railways
Earlier, the company won an order from the Indian Railways. The total cost of the work is Rs 1.11 crore, and the order needs to be executed within 6 months from the date the letter of acceptance (LoA) is issued. In addition, the company has received another order of Rs 60 lakh to supply emergency lighting units (ELU) for the railways.