Kernex Microsystems is currently trading at Rs 35.00, up by 1.85 points or 5.58% from its previous closing of Rs 33.15 on the BSE.
The scrip opened at Rs 34.50 and has touched a high and low of Rs 35.00 and Rs 33.45 respectively. So far 6415 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 83.50 on 10-Jan-2013 and a 52 week low of Rs 28.35 on 28-Mar-2013.
Last one week high and low of the scrip stood at Rs 36.40 and Rs 32.50 respectively. The current market cap of the company is Rs 41.44 crore.
The promoters holding in the company stood at 37.12%, while Institutions and Non-Institutions held 0.08% and 62.80% respectively.
Kernex Microsystems India has won a R&D contract for development of Train Collision Avoidance System (TCAS), one of the two companies selected by Research, Designs and Standard Organization of Indian Railways (RDSO), Lucknow, on behalf of Railway Board, while competing with eight contenders, including a few multinational companies. The product TCAS, is required to be conforming to SIL-4 level Railway product and CENELEC specifications.
This development aims at manufacturing of TCAS devices, Application Software and Communication Protocols and Interoperability with other vendors and carrying out trials in SC Railways- between Vikarabad - Bidar section and is to be completed in about eight months time, by February 2014.
Further, the company is expected to complete the project on time and assume a leading role in this venture, which might culminate in obtaining RDSO’s approvals and supplying the product to Zonal Railways, as part of deployment all over Indian Railways.
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