The company has received a Letter of Acceptance (LOA) from Northern Railway for improving passenger amenities (telecom) and enhancing information systems for disabled passengers at several stations under the Amrit Bharat Station Scheme.
Shares of BSE small company MIC Electronics Limited (MICEL) gained nearly 7 per cent after the Hyderabad-headquartered firm informed exchanges that it has received orders from South East Central Railway and Northern Railway and has signed an MoU with ChipEx Technologies to develop semiconductor solutions. The stock rebounded after two days of consecutive falls following these updates. The stock opened almost flat at Rs 55.02 against the previous close of Rs 55.01 on the BSE. Amid a spurt in trading volume, the stock jumped 6.78 per cent to touch the day’s high of Rs 58.74. Last seen, the counter was trading at Rs 57.03 and the market cap of the company stood at Rs 1,374.49 crore.
Order From Indian Railways
The company stated that it has received a Letter of Acceptance (LOA) from South East Central Railway for signalling and telecom work related to station development work under the Amrit Bharat Station Scheme. These works will be carried out at Nainpur (NIR), Chhindwara (CWA), Seoni (SEY), and Mandalafort (MFR) stations. This project is located in the Nagpur Division (SECR) and has a total cost of Rs 82,56,066.
In addition, the company has received a Letter of Acceptance (LOA) from Northern Railway for improving passenger amenities (telecom) and enhancing information systems for disabled passengers at several stations under the Amrit Bharat Station Scheme. This work will also include utility shifting.
This project will be carried out at TKJ, GHNA, MDNR, SZM, PWL, BVH, FDN, BGZ, ROK, PTRD, SMQL, NUR, SNP, JHI, NRW, MSZ stations in the Delhi Division. The total cost of this project is Rs 33,08,094. The total aggregate value of the said orders stood at Rs 1,15,64,160, as per the exchange filing.
Share Price History
According to BSE Analytics, the stock has delivered a multibagger return of 6467 per cent in five years and 383 per cent in three years. While the stock has gained 49 per cent in two years, it has corrected 30.67 per cent in one year as against the positive return of 6.80 per cent by the benchmark index.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
