MIC Electronics shares hit 10% upper circuit on bagging Rs 114 crore order

Shares rise in trade.

• MIC Electronics shares hit upper circuit after Rs 114 crore order win.
• Order involves infrastructure works at Nava Raipur, execution in 10 months.
• Stock surged 10 percent, backed by trading volume over 2.23 times the average.

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Shares of MIC Electronics on Wednesday hit the upper circuit limit after the company announced that it has bagged a fresh order worth over Rs 114 crore.

The stock advanced 10 percent to hit the upper circuit at Rs 38.97 per share on the NSE. Shares of the company opened higher, gaining 2.57 percent, and extended the momentum through the session. The stock has risen nearly 15 percent over the last two trading days.

In an exchange filing, the company said it has received a Letter of Acceptance from Nava Raipur Atal Nagar Vikas Pradhikaran, Raipur.

The order involves designing, engineering, supply, construction, testing, commissioning, annual maintenance contract, and operation and maintenance of infrastructure works at the Common Facility Centre in Sector 22 of Nava Raipur Atal Nagar, Raipur.

The total value of the order stands at Rs 114.10 crore, with an execution period of 10 months, the company said in the filing dated January 28. It added that the contract was secured through the tender route and is a direct order.

The upward move was backed by strong trading volume, with volumes surging to over 2.23 times the stock’s two-week average turnover of 1.32 lakh shares.

The company operates in the design, development, and manufacture of LED-based video display systems and lighting solutions. It is part of the BSE Industrials index and has a market capitalisation exceeding Rs 935 crore.

Earlier, the firm bagged several orders from Indian Railways. According to BSE data, the small-cap stock has declined by around 45 percent over the last year. It rose more than 200 precent over the past three years.

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