Multibagger stock under Rs 20: This micro-cap company has received an order worth over Rs 4 crore from the Indian Railways!

The stock gave multibagger returns of 1,797 per cent in just 2 years.

MIC Electronics informed that the company has received a letter of acceptance Sachin, Bhestan, Bardoli, Amalner, Dharangaon stations of Non suburban section under the Amrit Bharat Station Scheme of Mumbai Division, Western Railway - Indian Railways.

 The aggregate value of the said work order is Rs 4,62,16,707 and will be completed in 6 months from the date of the issue of the LOA.

On Friday, shares of MIC Electronics zoomed 4.30 per cent to an intraday high of Rs 17.45 per share from its previous closing of Rs 16.73. At the closing bell, shares of the company were trading at Rs 17.35, up 3.11 per cent.

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MIC Electronics is a global leader in the design, development & manufacturing of LED Video Displays, high-end electronic and telecommunication equipment and development telecom software.

The company has a market cap of Rs 381.99 crore, according to the financials. The maximum stake of the company is owned by the promoters (74.63 per cent) and the rest is owned by the general public (25.37 per cent) as of March 2023. The company recently released its quarterly and annual results for the year ended March 31, 2023, where it reported positive numbers.

In a span of just 2 years, this stock surged from Rs 0.92 per share to Rs 17.45 per share, delivering extraordinary multibagger returns of 1,797 per cent. Investors should keep an eye on this micro-cap stock.