Kernex Microsystems India Ltd enters into JV agreement with Venkata Rami Reddy Constructions

Kernex Microsystems (India) Limited has entered a Joint Venture agreement with M/s. Venkata Rami Reddy Constructions (VRRC).

The agreement is for Upgradation of Kavach Version 3.2 to 4.0 in Sadashivpet Road (Excluding) - Bidar - Parli Vaijnath Parbhani (Excluding) Section of South Central Railway and for execution of future projects which will be awarded under the joint venture.

In the proposed joint venture, Kenrex Microsystems (India) Limited will hold an 80% share, and Venkata Rami Reddy Constructions will hold 20%. The sharing ratio is subject to change based on the scope of future projects awarded under the joint venture.

Shares of Kernex Microsystems (India) Limited was last trading in BSE at Rs. 1076.00 as compared to the previous close of Rs. 1080.70. The total number of shares traded during the day was 10244 in over 895 trades.

The stock hit an intraday high of Rs. 1098.00 and intraday low of 1067.00. The net turnover during the day was Rs. 11096795.00.

Source : Equity Bulls

Keywords

KernexMicrosystemsIndia INE202H01019 JVAgreement VenkataRamiReddyConstructions KAVACH4