Kernex - VRRC consoritum issued LOA for orders worth Rs. 311.03 Crores

Southern Railways, Chennai has issued a letter of Acceptances (LOA) to KERNEX - VRRC CONSORTIUM for the projects:

1. Provision of Kavach (Train Collision Avoidance System), in MAS-GDR, MAS-AJJ, AJJ-RU, Sections of Chennai Division In Southern Railway for Rs. 173.11 Crores (Incl. GST@18%)

2. Provision of Kavach (Train Collision Avoidance System) along with Tower and 48 Fiber OFC as back bone network in ARAKKONAM (AJJ IN)-JOLARPETTAI (JTJ IN) Section of Chennai Division in Southern Railway for Rs. 137.92 Crores (Incl. GST@18%)

The Company is partner of the said Joint Venture with a share of 60%.

The accepted Bid costs for the projects are Rs. 311.03 Crores (Incl. GST@18%)

The Completion period is 730 days and 540 days from the date of LoA.

Shares of Kernex Microsystems (India) Limited was last trading in BSE at Rs. 1238.85 as compared to the previous close of Rs. 1274.65. The total number of shares traded during the day was 64114 in over 3039 trades.

The stock hit an intraday high of Rs. 1323.45 and intraday low of 1210.95. The net turnover during the day was Rs. 80276537.00.

Source : Equity Bulls

Keywords

KernexMicrosystemsIndia INE202H01019 VRRC Consortium OrderWin KAVACH TCAS SourthernRailways