Madhusudan Kela-backed MV Electrosystems shares more than double from IPO price in just 2 months. Should you buy?

MV Electrosystems shares have surged over 100% from their IPO price, boosting Madhuri Kela’s stake value to Rs 111.55 crore. However, declining FY26 revenue and a net loss raise concerns about the company’s future profitability.