MIC Electronics shares surged nearly 5% following the announcement of a significant railway contract win. The stock opened with gains of nearly 2% at ₹42.50 and reached an intraday high of ₹43.74, representing a 4.7% increase. As of noon trading, shares were quoted 1.5% higher at ₹42.40 with 9.15 lakh shares changing hands. The buying momentum was driven by the company's latest contract award from Indian Railways.
According to reports from ET Now, MIC Electronics has received a Letter of Acceptance from Howrah Division, Eastern Railway Zone of Indian Railways. The contract involves the provision of CIB (Coach Indication Boards) and TIB (Train Indication Boards) at multiple railway stations across the Howrah division. The filing specifically mentions the order is valued at ₹4,45,01,602.40 (₹44.51 lakh) for CIB and TIB provision at PRGR, SKIP, BZLE, SALE, MGAE, SDI, MRR, and RJG stations.
As reported by ET Now, the contract covers seven railway stations over the Howrah division. The stations include PRGR, SKIP, BZLE, SALE, MGAE, SDI, MRR, and RJG stations. This comprehensive coverage ensures comprehensive railway signaling infrastructure across the division, reflecting the scale and complexity of the railway signaling equipment requirements.
From a technical standpoint, MIC Electronics shares are trading higher than 5-day, 20-day and 50-day moving averages but remain lower than 100-day and 200-day moving averages, as reported by ET Now. The company is a constituent of BSE Industrials index and is engaged in designing, development, and manufacturing of light-emitting diode (LED) video displays and lighting products, with its primary focus on serving Indian Railways.
According to ET Now, this latest contract follows MIC Electronics' previous order win on Tuesday from Firozpur Division, Northern Railway Zone of Indian Railways, for provision of Coach Guidance and PA system at SVDK and SINA stations over Jammu Division. The Eastern Railway Zone's acceptance of the proposal indicates strong confidence in the company's technical expertise and execution capabilities for railway equipment supply and installation.
