Shares of Kernex Microsystems (India) Ltd were trading 4% lower on 23 July despite the company announcing it had secured a Rs 21 crore order. 

In its regulatory filing, the company said that it had received a letter of acceptance (LOA) from South Central Railways, Secunderabad, to upgrade the Kavach safety system on the Bidar-Parli Vaijnath segment.

Kernex-VRRC joint venture received a Rs 21.03 crore (including GST) order to upgrade the automated train protection (ATP) technology Kavach from Version 3.2 to Version 4.0.

The railway infrastructure corporation will work to improve the line from Sadashivpet Road to Parbhani station, but the stations themselves will not be part of the project. It will include Bidar and Parli Vaijnath stations along the South Central Railway route.

According to the stock exchange filing, the project is projected to be completed within 24 months.

At 1:40 pm, Kernex Microsystems shares are currently trading at Rs 1061, down 2.13% from their opening price of Rs 1097 on the NSE.

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