Kernex Microsystems (India) Ltd announced that the KERNEX-MRT consortium has received a Letter of Acceptance (LOA) from the South Eastern Railway for the KAVACH contract worth Rs 325 Crores.
Contract Details
Contract Value: Rs 325 Crores (including GST).
Contract Duration: 1,000 days from the appointed date.
Scope of Work: The contract scope includes the supply, installation, testing, and commissioning of the Kavach safety system. The project will focus on “GO & GO” routes, which span 688 route kilometers (RKM) in the Kharagpur and Chakradharpur divisions.
Kernex’s Official Statement
In a regulatory filling Kernex Microystem stated “…we would like to inform you that the ‘South Eastern Railways, Kolkata’ has issued a letter of Acceptance (LOA) to KERNEX-MRT CONSORTIUM for the project viz, Supply, Installation, Testing & Commissioning of Kavach on GO & GO routes (688 RKM) including associated works on section of Kharagpur & Chakradharpur division of South Eastern Railway,”
Rise in Kernex’s Shares
Following the announcement by Kernex Microsystems (India) Limited regarding the contract, the company’s share price concluded at Rs 854.70, reflecting an increase of Rs 40.65, or 4.99%, on the Bombay Stock Exchange (BSE).
