Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 1 (ST ASM-1) framework.
Shares of smallcap company MIC Electronics jumped nearly 7 per cent as the company informed exchanges that it has secured a new contract from the Indian Railways’ Vijayawada Railway Division. The counter opened in green at Rs 44.85 against the previous close of Rs 44.64 on the BSE. It later gained to touch the high of Rs 47.68, a gain of 6.81 per cent from the previous close. Last seen, the counter was trading at Rs 47.25 with a gain of 5.85 per cent. The market cap of the company stood at Rs 1,138.78 crore. On the National Stock Exchange (NSE), the counter began trading at Rs 45.28 against the previous close of 44.68 and later touched the high and low of Rs 47.83 and Rs 45.10, respectively.
Stock has been gaining for the last two days and has risen 10.54 per cent in the period. Technically, the stock trades higher than the 5-day moving averages but lower than the 20-day, 50-day, 100-day and 200-day moving averages.
Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 1 (ST ASM-1) framework.
New order from Indian Railways
The company, in its latest exchange filing, has reported receiving a large order from the Railways. The company stated that it has received a Letter of Acceptance (LoA) from the Vijayawada Railway Division to install an IP-based integrated passenger information system at ANV and YLM railway stations.
The order is worth Rs 1,49,88,884.77 and was issued by the Vijayawada Railway Division, part of the Indian Railways.
Under this order, the company will perform design, supply, installation, testing, and commissioning. The company stated that the entire project will be completed within 12 months from the date of the agreement.
MIC Electronics share price history
According to BSE Analytics, the company’s stock has risen more than 7 per cent in the past week and fallen more than 11 per cent in the past month. The counter has fallen 18 per cent in the past six months. On an annual basis, the stock has declined more than 43 per cent in the past year. The stock has gained more than 318 per cent in the past three years and more than 5,796 per cent in the past five years.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
