HYDERABAD – Shares of MIC Electronics Limited (NSE: MICEL; BSE: 532850) witnessed a massive surge on Wednesday, January 28, 2026, hitting the 10% upper circuit limit. The rally comes as investors cheered the company’s announcement of securing a major infrastructure contract valued at ₹114.10 crore from the Chhattisgarh government.

The Breakthrough Order

In a regulatory filing submitted to the BSE and NSE, MIC Electronics confirmed it has received a Letter of Acceptance (LoA) from the Nava Raipur Atal Nagar Vikas Pradhikaran (NRANVP). The project involves a comprehensive scope of work at the Common Facility Centre in Sector 22, Nava Raipur Atal Nagar – India’s first greenfield smart city.

Key Highlights of the Contract:

• Total Value: ₹114,10,15,212 (approximately ₹114.10 crore).
• Scope: Design, engineering, supply, construction, testing, and commissioning of infrastructure works.
• Post-Construction: The contract includes long-term Operations & Maintenance (O&M) and an Annual Maintenance Contract (AMC).
• Execution Timeline: The company has a strict window of 10 months to complete the project.

Market Reaction and Stock Performance

The market responded instantly to the news, which was officially recorded on January 27 at 3:43 PM. On Wednesday morning, the stock opened with a gap-up and quickly climbed to its upper circuit limit of ₹38.97 on the NSE (₹38.94 on the BSE).

This performance significantly outpaced the broader market, with the stock gaining nearly 10% while the Sensex rose by a modest 0.49%. Financial analysts noted that this single order is particularly significant given that it represents nearly triple the company’s total income from the previous quarter (Q2 FY26), which stood at ₹38.42 crore.

Strategic Significance

Securing a direct tender from a government body like NRANVP underscores MIC Electronics’ growing footprint in the smart city and heavy electrical equipment sectors. Founded in 1988, the Hyderabad-based company has been a pioneer in LED video displays and telecommunication equipment.

Industry experts suggest that the inclusion of O&M and AMC services in this contract is a strategic win, as it ensures a steady, recurring revenue stream for the company well beyond the initial 10-month construction phase.

Financial Outlook

This win follows a period of volatile trading for the stock, which had seen a correction of approximately 15% over the last month.

However, the long-term trajectory remains “multibagger,” with the stock delivering over 200% returns in the last three years.