This company secures LoA from Tirumala Tirupati Devasthanam, shares in focus: Check Details
Stock market news: Today, the spotlight is on Hyderabad-based MIC Electronics Limited as the company announces a significant milestone. MIC Electronics has secured a letter of acceptance (LoA) from the revered Tirumala Tirupati Devasthanam (TTD), Tirupati. This prestigious order, which must be executed within two months from the date of issue, underscores the company's growing influence in the LED display industry.
This new project, with an aggregate value of Rs 56.95 lakh, is a significant addition to MIC Electronics' portfolio. The project involves providing LED display boards to present consolidated information to the pilgrims at Tirumala, a task that aligns with the company's expertise and commitment to innovation.
'The Company has received a Letter of Acceptance from the Tirumala Tirupati Devasthanam (TTD), Tirupati for Providing LED display boards to display consolidated information to the pilgrims at Tirumala. The aggregate value of the said work order is ₹ 56,95,215.94 (Rupees Fifty Six Lakh Ninety Five Thousand Two Hundred Fifteen and Paise Ninety Four Only),' the company said in an exchange filing, MIC Electronics Limited said. Stock Price Today
Meanwhile, shares of MIC Electronics opened in the green today at Rs 70.80 against the previous close of Rs 67.98. It gained further to touch the intraday high of Rs 70.97 but fell amid selling pressure to touch the intraday low of Rs 66.
The stock's 52-week high is Rs 114.74, and its 52-week low is Rs 48.10. The company's market cap is Rs 1,617.43. Share Price History
Over the years, MIC Electronics has demonstrated impressive growth, with its stock delivering a multibagger return of 255 per cent in two years, 310 per cent in three years, and a staggering 7253.85 per cent in five years. However, the stock has experienced a correction of 28.94 per cent in the past six months and 21.99 per cent so far this year. Wins Order From Indian Railways
Previously, the company demonstrated its capability by securing an order from the Indian Railways. The total cost of the work is Rs 1.11 crore, and the order needs to be executed within 6 months from the date the letter of acceptance (LoA) is issued. In addition, the company has received another order of Rs 60 lakh to supply emergency lighting units (ELU) for the railways, further solidifying its successful track record.
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