New Delhi, Dec. 22 -- Small-cap multibagger stock MIC Electronics surged nearly 2.09% to Rs.44.85 apiece in Monday's trading session after the company announced it has received a LOA variation from Central Railway Zone, Nagpur division.

The small-cap multibagger stock has remained volatile in the near-term. MIC Electronics shares have gained over 2% in a month; however, has declined 16.35% in the last six months.

The small-cap stock has, however, given multibagger returns to its long-term investors by surging over 270% in over five years.

In an exchange filing, MIC Electronics said that the company has received a LOA variation from the Central Railway Zone, Nagpur division, worth Rs.1,05,31,118 under the Amrit Bharat Scheme.

The compa...