Shares of Hyderabad-headquartered MIC Electronics Limited (MICEL), a smallcap company engaged in the design, development and manufacturing of electronic and telecommunications equipment, are in focus as the company has received two fresh orders from the Indian Railways. The order is related to enhancing passenger information systems and telecom infrastructure across multiple railway divisions. Amid this update, the stock opened at Rs 41.44 against the previous close of Rs 40.51 on the BSE. It gained further to touch the high of Rs 42.34, representing a gain of 4.52 per cent from the previous close. Despite Sensex falling over 1000 points from the day’s high, the stock held firmly in green. Last seen, it was trading with a gain of 2.72 per cent or Rs 1.10 at Rs 41.61, and the market cap of the company stood at Rs 1,002.85 crore.
Technically, the stock is trading higher than the 5-day, 20-day, 50-day and 100-day moving averages but lower than the 200-day moving average.
Received two orders from Indian Railways
According to the information shared, the company has received a Letter of Acceptance (LOA) from the Signal and Telecommunication (S&T) department of the Nagpur Division, Central Railway (CR) Zone of Indian Railways, for the supply, installation, testing, and commissioning of telecom assets and Integrated Passenger Information Systems (IPIS) at Wardha station. The order is valued at Rs 1.12 crore.
It has also received an order to provide passenger information systems at Tirupattur, Samalpatti, Morappur, Bommidi, and Salem stations under the Amrit Bharat Scheme. The cost of the contract is Rs 1.09 crore.
Share price history
According to BSE Analytics, the stock has yielded a return of 5,924 per cent over five years and 238.79 per cent over two years. However, the stock has corrected by 30.18 per cent in one year. On a year-to-date basis, the scrip has corrected 4.70 per cent as against the dip of 8.71 per cent in the benchmark index.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
