Micro Cap Stock Jumps 5% After Winning ₹5.6-Cr Orders From Railways

Shares of MIC Electronics jumped 5% on Tuesday to hit a new 52-week high of ₹40.60.

What Happened: The surge today comes as the company announced bagging two orders from the Hyderabad Division of South, Central Railway Zone. One order is for the enhancement of passenger
amenities in connection with the provision of minimum essential telecom amenities at Nizamabad, Kurnool City, Malakpet, Yakatpura, Huppuguda, Sri Balabramareshwara Jogulamba Stations, under "Amrit Bharat
Station Scheme"
(ABSS). The order value is around ₹3.55 crore.

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The other order is for the provision of telecom arrangements at ABBS Stations, in connection with the works for the provision of lifts and escalators of the Hyderabad Division. This order is worth around ₹2.11 crore. The orders are to be completed within 12 months.

The announcement helped the micro-cap stock continue its three-straight session-gaining streak. With a market cap of around ₹900 crore, the company has been designing, developing, and manufacturing LED video displays, high-end electronic and telecommunication equipment, and developing telecom software since 1988.

Price Action: MIC Electronics’ share price was locked in 5% upper circuit on Tuesday at ₹40.60.

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