8000% rally over five years! MultiBagger -Railway stock hits 5% upper circle despite the stock market collapse; Here's why | Einsmark news

Kernex Microsystems’ share price hit 5% Upper Circuit on Friday despite a sharp drop in the Indian stock market today. The shares of Kernex Microsystems were closed on the 5% upper circuit of £ 1,300.75 per piece on the BSE. The rally in the shares of Kernex Microsystems India comes after the railway business announced that Southern Railways had issued an acceptance for two projects to the joint venture. In a regulatory filing on June 13, Kernex Microsystems India said the southern Railways, Chennai, issued a letter from acceptance (LOA) to Kernex-VRRRC consortium for two £ 311.03 projects. The first LOA is for the provision of Kavach (train collision avoidance system), in three divisions of the Chennai division in Southern Railway for £ 173.11 crore. The second LOA is for providing Kavach with Tower and 48 Fiber OFC as Back Bone Network in Arakkonam -JolarPettai section of the Chennai section in Southern Railway for £ 137.92 crore. Kernex Microsystems said it was a partner of the said joint venture with a 60%share. The accepted bid costs for the projects are £ 311.03 crore, and the completion period is 730 days and 540 days from the date of LOA. Kernex Microsystems ‘share price performance Kernex Microsystems’ share price increased by 64% in one month and over 88% over the past three months. The railway stock fell 8% on a year-on-date basis, but jumped with a staggering 246% in one year. The small cap has produced multi -time yields of 295% in two years and almost 8,000% over the past five years. At 1:45 p.m., the share price of Kernex Microsystems still traded at 5% upper upper circle at £ 1,300.70 each on the BSE. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions.