Shares of smallcap company MIC Electronics continued the upward trend on Wednesday amid a new contract from the Indian Railways. The stock opened flat at Rs 53.38 against he previous close of Rs 53.37 on the BSE. However, it gained momentum and touched the intraday high of Rs 55.07 - a jump of 3.19 per cent from the closing price of the last trading session. The scrip has been gaining for the last two days and has risen 7.38 per cent in the period. Technically, the counter trades higher than the 5-day and 20-day moving averages but lower than the 50-day, 100-day and 200-day moving averages.
Order For Vijayawada Station
MIC Electronics has received a contract to maintain 10 indoor and 5 outdoor display boards at Vijayawada railway station. This contract is for a period of two years, and the order has been placed by South Central Railway.
Company Receives BIS Certificate
The company has also received an essential certificate from the Bureau of Indian Standards (BIS), an institution of the Government of India. This certificate has been received for the company's data processing machine.
Earlier, the company received an order from Pandit Deen Dayal Upadhyay Junction of the East Central Railway zone.
According to the information shared, the order includes facilities like an electronic coach indication board (CIB) on platform number 7, a fare display board for the passenger reservation centre (UTS/PRS), and a video wall.
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.
Share Price History
The stock has given a 22 per cent return in one year and a multibagger return of 203 per cent in two years. In three years, investors have made a profit of 246 per cent. The company has shown the most impressive performance in five years, with a massive jump of about 8,400 per cent. However, it has corrected 30.40 per cent on a year-to-date (YTD) basis.
