Shares of MIC Electronics, which were trading in the red for most of the Monday session, shot up sharply after the company said it had bagged an order.
What Happened: the company said in an exchange filing that it received an order from the Lucknow Division of the Northern Railway Zone for an integrated passenger information system at different stations in Mahakumbh 2025.
The order is worth around ₹2.5 crore and is expected to be completed in nine months. Shares of the company surged sharply after the announcement was made. The stock climbed around 4% from the day’s lows.
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Earlier in the year, the company had bagged another order from the railways. The order was awarded by the Malda Division of the Eastern Railway Zone. The order is scheduled to be completed in a year and is worth around ₹1.47 crore.
The company, headquartered in Hyderabad, is engaged in the design, development and manufacturing of LED video displays, high-end electronic and telecommunication equipment, as well as the development of telecom software since 1988, according to information available on its website.
Price Action: MIC Electronics' share price was up 2.07% to trade at ₹78.79 in the afternoon hours of trading on Monday.
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