MIC Electronics shares surged to the 5% upper circuit limit on Wednesday following the company's announcement of securing a significant railway project. According to reports from Moneycontrol, the stock opened at ₹30.55 per share on the BSE, up from the previous close of ₹30, and later climbed to an intraday high of ₹31.50. The buying interest was driven by the company's announcement of receiving a Letter of Acceptance (LoA) from Indian Railways.
The company received the LoA from the Sambalpur Division of the East Coast Railway Zone of Indian Railways. As reported by Moneycontrol, the order involves the installation of Coach Indication Boards (CIB) and Train Indication Boards (TIB) at railway stations. The total project cost is estimated at around ₹2.12 crore, with the work to be executed across multiple platforms at stations including BGBR, NPD, JNRD, AMB and RGL.
According to the company's announcement, the project is scheduled to be executed within six months. As reported by Moneycontrol, the terms and conditions will be finalised at the time of signing the agreement. The company stated that this order strengthens its order book, indicating the project's significance for the company's revenue pipeline.
