Technically, the stock trades higher than the 5-day moving averages but lower than the 20-day, 50-day, 100-day and 200-day moving averages.
Shares of Hyderabad-headquartered MIC Electronics Limited (MICEL) were locked in a 10 per cent circuit on Wednesday as the company has informed exchanges about the receipt of an order from the Chhattisgarh government. The stock started the trading session in green as the benchmark indices Sensex and Nifty surged in early trade, extending their previous day’s rally, on optimism over the India-EU FTA. The counter began the session at Rs 36.01 against the previous close of Rs 35.40. It gained further amid a spurt in trading volume by more than 2.23 times and touched the intraday high of Rs 38.94. The market cap of the company stood at Rs 938.50. In comparison, the BSE Sensex gained 0.32 per cent to 82,123.33.ย
The counter has outperformed the sector by 7.7 per cent. The scrip has been gaining for the last two days and has risen by 14.63 per cent in the period.ย
Technically, the stock trades higher than the 5-day moving averages but lower than the 20-day, 50-day, 100-day and 200-day moving averages.
Wins order from the Chhattisgarh government
The company has informed exchanges that it has secured a significant infrastructure contract worth approximately Rs 114.10 crore from Nava Raipur Atal Nagar Vikas Pradhikaran, Government of Chhattisgarh. According to the information shared, the terms and conditions will be finalised at the time of execution of the agreement, and the order needs to be executed within 10 months.ย
The order, awarded through a competitive tender process, encompasses the complete lifecycle of a Common Facility Centre in Sector 22 of Nava Raipur Atal Nagarโfrom design and engineering through to construction, testing, commissioning, and subsequent operations & maintenance.
Share price history
According to BSE Analytics, the stock has yielded a multibagger return of 3472.48 per cent in five years and 223.42 per cent in three years. However, it has corrected 10.73 per cent on a year-to-date (YTD) basis as against the dip of 3.80 per cent in the benchmark index.ย
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)