Kernex Bags Rs 411 Crore BLW Order, Shares Surge 4.75%

Shares of Kernex Microsystems (India) Limited surged 4.75% to touch the day’s high of Rs 1,295 on 12th February, after the company said on Wednesday (11th February) that Banaras Locomotive Works (BLW), Varanasi, had awarded it an order worth Rs 411.17 crore, including GST.

Kernex Microsystems has received an order worth Rs 411.17 crore (including GST) from Banaras Locomotive Works (BLW), Varanasi.

The contract is for the supply, installation, testing, and commissioning of 505 on-board Kavach locomotive equipment units, as per RDSO Specification No. RDSO/SPN/196/2020, Version 4.0 or the latest version.

A domestic entity has awarded the order and is domestic in nature.

The project is to be completed within 12 months of the purchase order date.

Earlier, the company had secured an order worth Rs 21.03 crore (including GST) from South Central Railway, Secunderabad.

This earlier contract, awarded to the Kernex–VRRC joint venture, involves upgrading the Kavach automatic train protection (ATP) system from Version 3.2 to Version 4.0 in the Bidar–Parli Vaijnath section. The work covers the route from Sadashivpet Road to Parbhani station, excluding station premises, under South Central Railway.

At 10:56 AM, shares of Kernex Microsystems were trading 3.33% higher at Rs 1,276.80 on NSE.

Ready to invest like a pro? Tradz by EquityPandit equips you with 100+ Free tools and knowledge you need to succeed. Download the Tradz app and gain access to daily stock lists and insightful market analysis and much more!

The post Kernex Bags Rs 411 Crore BLW Order, Shares Surge 4.75% appeared first on Equitypandit.