Rs 109,46,50,000 order from South Central Railway: This multibagger company forms a JV with Venkata Rami Reddy Constructions, Charvitha Enterprizes & R. Venkata Reddy!
The stock gave multibagger returns of 110 per cent in just 1 year, 1,700 per cent in 3 years and a whopping 2,300 per cent in 5 years.
Kernex Microsystems (India) Ltd informed that the company has formed a joint venture with Venkata Rami Reddy Constructions, Charvitha Enterprizes and Mr R. Venkata Reddy for the execution of comprehensive signalling and telecommunication works for the provision of the automatic block signalling system in Vemulapadu - Muddanur Section of Guntakal Division in South Central Railway.
The order is worth Rs 109,46,50,000 which was received from South Central Railway and will be completed within 600 days. In the shareholding of the given project, Venkata Rami Reddy Constructions owns a 51 per cent stake, KERNEX Microsystems (India) Limited owns a 26 per cent stake, Charvitha Enterprizes 10 per cent and Mr R. Venkata Reddy owns 13 per cent stake.
Today, shares of Kernex Microsystems (India) Ltd plunged 2.21 per cent to Rs 567.40 per share from its previous closing of Rs 580.20 per share with an intraday high of Rs 589 and an intraday low of Rs 565.20.
Kernex Microsystems (India) Ltd manufactures, installs, and maintains anti-collision devices, and conceptualises, designs, and develops railway safety and signal systems. The company has a market cap of Rs 877 crore. According to the shareholding of the company, the promoters own 31.6 per cent stake, FIIs own 0.03 per cent stake, the Government own 0.07 per cent stake and the rest of the stake is owned by the public i.e., 68.3 per cent.
In its Quarterly Results (Q2FY24), the company reported net sales of Rs 1.41 crore and a net loss of Rs 4.53 crore and in its annual results (FY23), the company reported net sales of Rs 4 crore and a net loss of Rs 20 crore.
The stock gave multibagger returns of 110 per cent in just 1 year, 1,700 per cent in 3 years and a whopping 2,300 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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