Micro Cap Stock Bags ₹1.47 Cr Order From Railways, Shares Up 4%

Shares of MIC Electronics that were upbeat on Tuesday received a further boost as the company announced bagging an order from Railways.

What Happened: The company on Tuesday informed the exchanges that it had received an order from the Malda Division of the Eastern Railway Zone. The order is for the replacement of CIB, TIB of PF No: 1, 4&5 and passenger amenities at Bhagalpur Station of the Malda Division.

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The order is scheduled to be completed in a year and is worth around ₹1.47 crore. Earlier in the year, the company announced the development of a 42V/3A electric vehicle (EV) battery charger designed for e-cycles and two-wheelers. They mentioned that the charger will be launched soon, with commercial operations slated to commence in March.

Headquartered in Hyderabad, the company is involved in the design, development & manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment and development of Telecom software since 1988, as per info from its website. The company is scheduled to post its earnings for the March quarter on May 21.

Price Action: MIC Electronics’ share price was up 4.26% to trade at ₹48.95 in the late hours of trading on Tuesday.

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