Shares of this smallcap firm gains on fresh railway-linked order; check details

Shares rise in trade.

Shares of smallcap MIC Electronics rose on Wednesday after the company said it had received a fresh order from Indian Railways.

In an exchange filing, the company said it has received a Letter of Acceptance (LoA) from the Howrah Division of the Eastern Railway Zone for provision of Coach and Train Indication Boards at various stations.

The order is valued at Rs 44 crore.

The stock opened nearly 2 percent higher at Rs 42.50 on the BSE and rose to an intra-day high of Rs 43.74, up 4.7 percent. Around 3 pm, the shares were trading at Rs 42.11 apiece, up 0.69 percent, amid some profit booking.

"The Company has received a Letter of Acceptance from Howrah Division, Eastern Railway Zone of Indian Railways, for provision of CIB, TIB (Coach and Train Indication Boards) at PRGR, SKIP, BZLE, SALE, MGAE, SDI, MRR, and RJG stations over Howrah division for an amount of Rs 4,45,01,602.40," the company said in the filing.

On Tuesday, the company had received a Letter of Acceptance from the Firozpur Division of the Northern Railway Zone for provision of Coach Guidance and Public Address systems at SVDK and SINA stations over the Jammu Division.

The company is part of the BSE Industrials index. The company is engaged in the design, development and manufacture of LED video displays and lighting products, primarily catering to Indian Railways.

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