Order win impact: MIC Electronics, Ceigall India shares gain up to 6%

Shares gain order wins.

Shares of MIC Electronics gained up to 6 percent in Monday’s trade after the company said it has secured two letters of acceptance (LoA) worth Rs 1.76 crore from Indian Railways.

The order from Sambalpur Division, Odisha, is for shifting of existing coach indication board systems and auto announcement systems at Amrit Bharat stations. The contract, valued at Rs 1.20 crore, is to be executed within six months, the company said in a filing.

Additionally, the company received an LoA from Integral Coach Factory, Chennai, for the supply of LED emergency lights worth Rs 56.47 lakh. The work is scheduled to be completed in nine months.

The company is engaged in the design, development and manufacturing of LED video displays and high-end electronics and telecom products.

On the NSE, the stock touched an intraday high of Rs 73.85, up 6 percent. At around 3 pm, it pared some gains to trade at Rs 70.10, higher by 0.63 percent.

Addtionally, shares of Ceigall India advanced over 3 percent after the company emerged as the lowest (L1) bidder for a Rs 509.2 crore road construction project in Mohali. The contract was awarded by the Greater Mohali Area Development Authority (GMADA) and involves building roads in the Aerotropolis area of Sahibzada Ajit Singh Nagar district, Punjab, according to the company’s stock exchange filing.

Following the announcement, Ceigall India’s stock climbed to an intraday high of Rs 278.95 on the NSE, marking a gain of 3.5 percent from the previous close of Rs 269.39.

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