Kernex Microsystems JV bags Rs255.22 crore order from North Central Railway; Stock zooms 5%

2 Sep 2022 , 09:48 AM

Kernex Microsystems (India) Limited has informed that the “North Central Railway” has issued a Letter of Acceptance (LOA) to KERNEX-KEC CONSORTIUM.

As per the filing, the LoA is for the project viz, ‘Provision of KAVACH (Train Collision Avoidance System). along with 48 fibre OFC as a backbone on CH IPYANA BUZURG (EXCL)-KANPUR (EXCL) Section on North Central Railway.

Further, the accepted Bid Project Cost for the Project is Rs255.22 crore.

The Completion period is 650 days from the date of LoA, the company said in a regulatory filing.

At around 9:50 AM, Kernex Microsystems (India) Ltd is currently trading at Rs248.90 per share up by Rs11.85 or 5% from its previous closing of Rs237.05 per share on the BSE.

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