MIC Electronics Shares Surge 10% on Intraday Trading Amid Development of IPIS V2.0 for Indian Railways

MIC Electronics Shares See Significant Intraday Gain Following IPIS V2.0 Development Announcement

MIC Electronics shares experienced a significant intraday surge of nearly 10 percent on Friday after the company announced the initiation of development of IPIS V2.0 for Indian Railways.

The stock reached an intraday high of Rs 57.60 per share on the National Stock Exchange (NSE), marking a 9.7 percent increase from its previous close. Although the stock later relinquished some of its gains, it remained higher by 4.5 percent at approximately 2:45 pm, trading at Rs 54.87 per share.

According to an exchange filing, the company has initiated the development of IPIS V2.0 for Indian Railways, and the project is progressing as planned. The filing revealed that the product architecture has been established, with teams working concurrently on hardware, firmware, and Network Management System (NMS) application software development.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

The company reported that the programme has made notable progress across major development areas and remains on track for product realization and delivery. The company's engineering approach and coordinated team efforts are supporting steady development with a roadmap for deployment of the solution.