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Newly-listed MV Electrosystems stock jumped as much as 15% in intraday trade to hit a record high of ₹838.40 on the BSE on Monday, 7 September, despite a weak stock market trend. MV Electrosystems share price opened at ₹733.85 against its previous close of ₹729.05 and surged over 15% to its all-time high of ₹841, with volume surging by more than 1.13 times. On the other hand, equity benchmark Sensex dropped by 0.60% during the session till 11:15 AM. MV Electrosystems' share price saw strong traction on Monday as the company announced its 17th Annual General Meeting (AGM) is scheduled to be held on Tuesday, 29 September 2026, at 11:00 AM. The agenda of the AGM includes the adoption of the audited financial statement for FY26 and the approval of the appointment of Mohit Vohra and Sumit Dhawan as directors of the company. Meanwhile, in its annual report for FY26, the company said its sales and other income stood at ₹49.80 crore in FY26 compared to ₹64.64 crore in FY25. For the last financial year, it incurred a loss of ₹12.63 crore compared to a profit of ₹1.40 crore in FY25. The company said it remains focused on sustainable growth by strengthening its core operations, enhancing operational efficiency and pursuing new business opportunities. "With continued emphasis on innovation, customer satisfaction and prudent financial management, the company is well-positioned to capitalise on emerging market opportunities. The board remains optimistic about the company’s future prospects and is committed to delivering long-term value to all stakeholders," it said in the annual report. MV Electrosystems shares were listed on 6 August this year. At the current price of ₹841, the stock has almost doubled from the IPO price of ₹425 in just one month. MV Electrosystems designs, develops, and manufactures propulsion systems, switchgear panels, electrical equipment, and cable management products for railway rolling stock and rail electrification networks. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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