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An announcement from Kernex Microsystems India Ltd. ( (IN:KERNEX) ) is now available.
Kernex Microsystems (India) Ltd. has disclosed that it was unable to complete a 2024 order from Chittaranjan Locomotive Works (CLW) for supply, installation, testing and commissioning of on-board KAVACH equipment for 2,500 locomotives within the stipulated timeline due to delays in the certification process, and CLW has declined the company’s request to extend the delivery period. The company said this development will not affect its financial position, technical credentials or eligibility for current and future Indian Railways tenders, and it plans to redeploy the existing inventory from this project towards newly floated locomotive tenders by CLW and Banaras Locomotive Works, as well as other ongoing and upcoming railway projects, with tender results expected shortly.
More about Kernex Microsystems India Ltd.
Kernex Microsystems (India) Ltd. is a Hyderabad-based technology company that designs and supplies safety and signaling systems for the railway sector, including on-board train protection solutions such as KAVACH equipment for locomotives, primarily serving Indian Railways and its production units.
Average Trading Volume: 18,880
Technical Sentiment Signal: Strong Buy
Current Market Cap: 21.8B INR
For an in-depth examination of KERNEX stock, go to TipRanks’ Overview page.