The small-cap IT company, MIC Electronics Ltd, experienced a 2% rise during Thursday’s trading session after securing a contract for annual maintenance from the Vijayawada Division – S & T, part of the South Central Railway Zone. This domestic order, which was acquired through a tender process, is worth ₹13,48,000 and will last for two years, with particular terms and conditions to be confirmed upon execution.
The company has recently obtained a substantial domestic work order from the Signal and Telecommunication Branch of the Palakkad Division S&T at the Railway Divisional Office in Palakkad.
This contract, worth ₹1,28,34,157.90, entails the supply, installation, testing, and commissioning of an IPIS system at the Kannur station. This initiative is part of a larger project aimed at enhancing Passenger Amenities under the Amrit Bharat Station Scheme and includes a comprehensive annual maintenance contract (CAMC) for six years.
The company has received the Letter of Acceptance for this direct contract, which was secured through a tender process, and is anticipated to complete the project within six months from the date of the letter.
