“…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," Kernex Microsystems stated in a regulatory filing.

The contract is valued at Rs 3.25 billion (including GST) and has a completion timeline of 1,000 days from the appointed date. Kernex Microsystems is the lead member of the consortium executing the project.

Kavach is an advanced Train Collision Avoidance System (TCAS) designed to enhance railway safety by preventing signal passing at danger (SPAD), over-speeding, and collisions.

Following the announcement, shares of Kernex Microsystems (India) Limited closed at Rs 854.70, up by Rs 40.65 (4.99%) on the BSE.