Kernex at 5% UC

Kernex Microsystems, which had closed yesterday at Rs.580, within seconds of opening today was locked at the 5% UC of the day at Rs.609 on the back of a 11-times surge in volumes. Its 52-week high stands at Rs.706.95.

The stock price jumped up on receipt of a new order from the South-Central Railway for Rs.109 crore.

This order was given to its JV – VRRC-Kernex-CE-RVRfor comprehensive signalling and telecommunication works for provision of automatic block signalling system inVemulapadu - Muddanuru section of Guntakaldivision in South Central Railway.

The company is partner of the said JV and its share is to be decided at a later stage.

The expected execution time for the order is 600 days.