MIC Electronics bags Rs 114 crore infrastructure order from Chhattisgarh govt
MICEL · price
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On the reaction day the stock moved 7.4 pts more than Nifty Microcap 250 and 8.2 pts more than its Other Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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MIC Electronics received a Letter of Acceptance from Nava Raipur Atal Nagar Vikas Pradhikaran, a Government of Chhattisgarh entity, for infrastructure works at a common facility centre in sector 22, Nava Raipur. The contract is worth about Rs 114.10 crore and covers designing, engineering, supply, construction, testing, commissioning, AMC and operations and maintenance. The project is to be completed within 10 months. The order is domestic, won through tender, and has no related party interest.
Positive for the stock. Company adds a sizeable domestic government order worth around Rs 114 crore to its order book, with execution timeline of 10 months.