New Delhi: Due to weak global cues and slowdown in foreign funds, the domestic stock market is witnessing a sharp decline today. But despite this, many individual stocks have registered a rally. These include shares of Kernex Microsystems (India), which touched the upper circuit of five per cent on Tuesday. It reached Rs 344 on the BSE, which is its 15-year high. The stock has more than doubled in value in the last five months. It has gained 107% during this period. Due to the strong business outlook, it is likely to remain bullish going forward. This company provides safety systems and software services for the railways.
The company’s stock is trading at the highest level since October 2007. Its all time high is Rs 363 which it touched on December 20, 2005. Shares of Kernex Microsystems have gained 28 per cent in the last one month, while the BSE Sensex has lost 3.5 per cent during this period. The company recently said that it has received a project worth Rs 254 crore from the Railways. Railways is installing Kavach system on its network and it is starting on Golden Quadrilateral Routes.
Top Trending Stock: All signs of bullishness are visible in the stock of this telecom company, there is a good chance to earn profit
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The company is developing Train Collision Avoidance Systems for Indian Railways. In addition, the company is also providing safety systems to countries like Egypt and South Africa. Along with this, the company is also planning to enter the defense sector. That is, the business outlook for the company is good. This is the reason why its shares are expected to continue rising. That is, if you invest in it now, it can be beneficial in the short to long term.
