Kernex Microsystems share price locked at 5% upper circuit on JV’s ₹109.5 crore order win
Kernex Microsystems share price was locked at 5% upper circuit on Tuesday’s trade after the company’s joint venture (JV) secured an order from South Central Railway worth ₹109.46 crore. For the provision of an automatic block signalling system, the JV has been awarded the contract for comprehensive signalling and telecommunication works. The company stated in an exchange filing that it is a partner in the aforementioned joint venture, and the share will be determined later.
Kernex Microsystems (India) Ltd share price opened at an intraday high of ₹609 apiece on the BSE. As per trendlyne data, Kernex Microsystems stock price rose 110.59% and outperformed its sector by 49.84% in the past year.
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“We would like to inform you that the South-Central Railway” has awarded an Order of ₹109.465 crore to a Joint Venture of the Company i.e. VRRC-KERNEX-CE-RVR JV, for comprehensive signalling and telecommunication works for provision of automatic block signalling system inVemulapadu – Muddanuru section of Guntakaldivision in South Central Railway,” said the company in an exchange filing.
The expected execution time for the order is 600 days.
(more to come)
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Published: 02 Jan 2024, 09:54 AM IST
