MIC Electronics Ltd shares have delivered exceptional performance, rising 30% over the past month and extending gains for the second consecutive session. According to reports from LiveMint, the stock opened at ₹41.44 on Thursday, April 16, touching an intraday high of ₹42.34 and low of ₹41.10. The company has demonstrated strong short-term momentum with gains of 7.28% over the past week and 25.22% in the last two weeks.
The recent rally was driven by significant railway contract wins from Indian Railways. As reported by LiveMint, the company secured a ₹1.12 crore contract from the Signal and Telecommunication department of the Nagpur Division within the Central Railway zone for telecom assets and passenger facilities at Wardha station. Additionally, MIC Electronics obtained a variation order from the Salem Division in the Southern Railway zone worth approximately ₹1.09 crore for Passenger Information Systems under the Amrit Bharat Scheme across several stations, including five years of comprehensive maintenance.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, as reported by LiveMint, MIC Electronics share price has seen sharp rally moving from a range of 30 to beyond 40 levels. The analyst noted that prices have reclaimed 89DEMA after a long time and RSI has broken above 60, indicating strong positive momentum. Bhosale suggests prices can extend towards the previous swing high around ₹45 while 89EMA can act as support placed around ₹39 levels.
As reported by LiveMint, these contracts, secured via local tenders, enhance the company's position in railway modernization and increase order volume. MIC Electronics is active in the electronics and display solutions industry, particularly known for supplying passenger information and telecom systems to Indian Railways and various infrastructure projects. The company emphasizes offering installation, testing, commissioning, and maintenance services for information and communication equipment at railway stations across different zones in India.
