Shares of MIC Electronics, which made significant strides last month, came under investors’ radar in Monday’s trade, surging 5% to ₹56.50 apiece and snapping a two-day losing streak, following the company’s approval of a fresh registration from the Research Designs and Standards Organization (RDSO).
In a regulatory filing today, the company said it had received a prototype testing result for request ID: 25111, dated July 31, 2024, for item ID: 3100369 from the RDSO, Ministry of Railways.
“The approval has been granted for the microprocessor controller for roof-mounted AC package units for LHB coaches and double-decker coaches,” the company added.
Multibagger returns! Stock jumps over 6800% in five years
After recording a sharp rally in the first half of September, with the stock soaring 78%, MIC Electronics’ shares came under pressure later in the month, giving up most of those gains and ending September with a 20% overall rise.
The profit-booking trend extended into October, with shares down about 3% so far this month. However, despite the recent weakness, the stock continues to trade with massive five-year gains of 6848%.
During this period, the₹0.60 to ₹56.50, delivering multibagger returns”> stock rose from ₹0.60 to ₹56.50, delivering multibagger returns. Notably, the stock rallied 150.44% in 2024 and 148% in 2023, underscoring its strong upward trajectory over the past two years.
This massive appreciation in share price has created substantial wealth for investors.
An investor who had invested ₹1 lakh in the stock five years ago and held it till now would have seen ₹94 lakhs”>the value swell to nearly ₹94 lakhs, showcasing the wealth-creating potential of long-term investing in the right stocks.
About MIC Electronics
MIC Electronics Ltd. is engaged in the manufacturing of LED products, medical and other appliances, and automobile components.
The LED display market in India is expanding rapidly, driven by government initiatives such as Smart Cities and Digital India. The market size for LED displays in India is estimated at ₹2,000 crore, growing at a CAGR of 20%.
Key applications include public transportation (railways, airports, and bus stations), advertising, and smart city projects.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
