The shares of a global leader in LED display production locked around 5 percent upper circuit on Tuesday’s early trade after the company received an order from South-Central Railway Zone.
On Tuesday’s early trade, MIC Electronics Ltd shares touched around 5 percent upper circuit and touched a 52-week high price of Rs 40.60 apiece on the National Stock Exchange, and the company has a market capitalization of Rs 899 crores.
According to the company’s exchange filing, MIC Electronics received a Letter of Acceptance from the Hyderabad Division of the South-Central Railway Zone for the upgrading of passenger facilities under the “Amrit Bharat Station Scheme” (ABSS) for an Order of Rs. 3.55 crore.
The MIC electronics share gained 228 percent in six months and 236 percent over a year. A one-lakh rupee investment in the company would be worth Rs. 3.36 lakhs after a year and Rs. 3.28 lakhs after a half-year.
The operational income of MIC Electronics has risen by 241 percent year on year, from Rs 2.42 crore in Q1FY23 to Rs 8.26 crore in Q1FY24. During the same time period, the net loss was reduced from Rs 1.24 crore to a profit of Rs 1.24 crore.
MIC Electronics Limited is engaged in the business of element management system (EMS) and network management System (NMS) solutions for the telecommunications, railway, and network industries.
In the recent financial year, the company reported a net profit of 2.47 percent and an operating margin of 11 percent.
The company promoters hold 74.63 percent stake in the company in the recent quarter and retail investors possess 25.37 percent.
Written by Omkar Chitnis
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