Multibagger penny stock under Rs 40: This micro-cap company receives order worth Rs 3,38,12,890.49 from Central Railways!

The stock gave multibagger returns of 210 per cent in just 1 year, 2,700 per cent in 2 years and over 5,500 per cent in 3 years.

MIC Electronics is a global leader in the design, development & manufacturing of LED Video Displays, high-end electronic and telecommunication equipment and development of telecom software, informed that the company received an order from the Hyderabad Division of South-Central Railway Zone for the enhancement of passenger amenities in connection with;

Provision of telecom arrangements at, 7 no stations i.e., Nizamabad, Malakpet, Huppuguda, Kamareddi, Malkajgiri, Mahbubnagar, and Kurnool City Stations in connection with the provisions of Foot Over Bridge (12m) in Hyderabad Division, under “Amrit Bharat Station Scheme” (ABSS).

The aggregate value of the said work order is Rs 3,38,12,890.49 and will be completed within 12 months from the letter of intent (LOI)

Earlier, the company received a new order worth Rs 2,70,02,653.65 from the Kota Division of West-Central Railway Zone for the enhancement of passenger amenities in connection with the provision of high-level platform at 3 stations and improvement of platform surface at 3 stations; Improvement to interiors, waiting halls, etc. at 17 stations; Provision of COP at 7 stations and Replacement of IP-based integrated passenger information system at Tenali Station (TEL).

MIC Electronics has a market cap of Rs 817 crore with a 5-year stock price CAGR of 85 per cent. On Monday, shares of MIC Electronics Ltd jumped 5 per cent upper circuit to Rs 38.73 per share from its previous closing of Rs 36.89. The stock also made a new 52-week high of Rs 38.73 per share. In the recent trading sessions, the stock has been hitting back-to-back upper circuits.

The company in its Quarterly Results (Q1FY24) wherein revenue from operations grew by 241.32 per cent from Rs 2.42 crore and net profit skyrocketed by 200 per cent from a net loss of Rs 1.24 crore in Q1FY23 to a net profit of Rs 1.24 crore in Q1FY24.

The stock gave multibagger returns of 210 per cent in just 1 year, 2,700 per cent in 2 years and over 5,500 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.