Kernex Microsystems locked at 5% upper circuit as JV gets Rs 109.5-cr order

The share touched a 52-week high of Rs 706.95 and a 52-week low of Rs 214.70 on 08 November, 2023 and 28 March, 2023, respectively.

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The share price of Kernex Microsystems was locked at 5 percent upper circuit in the opening trade on January 2 after the company’s JV received an order of Rs 109.465 crore.

At 9:17am, Kernex Microsystems (India) was quoting Rs 609, up Rs 29, on the BSE.

“The South-Central Railway has awarded an order of Rs 109.465 crore to the joint venture (JV) company VRRC-KERNEX-CE-RVR JV, for comprehensive signalling and telecommunication works for provision of automatic block signalling system in the Vemulapadu – Muddanuru section of Guntakal division in the South Central Railway. The contract is to be executed in 600 days.

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The company had reported a net loss of Rs 4.54 crore in the quarter ended September 2023. The share touched a 52-week high of Rs 706.95 and a 52-week low of Rs 214.70 on 08 November, 2023 and 28 March, 2023, respectively. The stock is trading 13.86 percent below its 52-week high and 183.65 percent above its 52-week low.