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Shares of Kernex Microsystems (India) Limited ended at ₹1,233.15, up by ₹36.55, or 3.05%, on the BSE.
Kernex Microsystems (India) Ltd on Wednesday (February 11) said Banaras Locomotive Works (BLW), Varanasi, has awarded the company an order valued at ₹411.17 crore, including GST.
The contract is for the supply, installation, testing and commissioning of 505 on-board Kavach loco equipment units. The order has been awarded by a domestic entity and is domestic in nature.
"...we are pleased to inform you that Banaras Locomotive Works, Varanasi (hereinafter referred to as "BLW") has awarded an order valued at Rs 411.17 crores (Incl. GST) to the Company for the Supply, Installation, Testing and Commissioning of 505 nos of On-board KA V ACH Loco Equipment as per RDSO Specification No. RDSO/SPN/196/2020, Version 4.0 or the latest," according to a stock exchange filing.
Also Read: Kernex Microsystems-led consortium wins ₹325-crore Kavach contract from South Eastern Railway
The execution period for the contract is 12 months from the date of the purchase order. The total consideration for the contract stands at ₹411.17 crore, inclusive of GST.
Last year, Kernex Microsystems (India) announced that it secured a letter of acceptance (LoA) from South Central Railways, Secunderabad, for upgrading the Kavach safety system in the Bidar - Parli Vaijnath section.
The order worth ₹21.03 crore, including GST, has been awarded to Kernex- VRRC joint venture to upgrade the automatic train protection (ATP) technology Kavach from Version 3.2 to Version 4.0.
Also Read: This railway company just won an order greater than its market capitalisation
The railway infrastructure company will work on upgrading the route from Sadashivpet Road to Parbhani station, while the stations themselves are not part of the project. It will cover Bidar and Parli Vaijnath stations along the route under South Central Railway.
Shares of Kernex Microsystems (India) Limited ended at ₹1,233.15, up by ₹36.55, or 3.05%, on the BSE.
