MIC Electronics shares settled nearly 3 percent higher on Monday after the company said it received approval from the Research Designs and Standards Organisation (RDSO) for a key product used in railway coaches.
The scrip settled at Rs 55.43 on the NSE, up 2.63 percent from its previous close.
In a regulatory filing, the company said it has received a prototype testing result for the "microprocessor controller for roof-mounted AC package unit for LHB coaches and double-decker coaches" from the RDSO, Ministry of Railways.
Earlier, the company had announced that it secured two letters of acceptance (LoAs) worth Rs 1.76 crore from Indian Railways.
One of the orders, valued at Rs 1.20 crore, has been awarded by the Sambalpur Division in Odisha for shifting existing coach indication board systems and auto announcement systems at Amrit Bharat stations. The project is to be completed within six months, the company said.
In addition, MIC Electronics received an LoA from the Integral Coach Factory, Chennai, for the supply of LED emergency lights worth Rs 56.47 lakh, to be executed within nine months.
The company is engaged in the design, development and manufacture of LED video displays and high-end electronics and telecom products.
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