Kernex Microsystems (India) Ltd Share Price – NSE  / BSE

Electronics, Small Cap

The key equity benchmarks traded near the flat line in the early afternoon trade. The Nifty hovered near the 24,700 level. Consumer durables shares witnessed buying demand for the sixth consecutive trading session. The RBI decided to keep the benchmark repo rate unchanged at 6.5%. However, slashed the cash reserve ratio (CRR) by 50 bps to 4%.

At 12:28 IST, the barometer index, the S&P BSE Sensex, added 44.99 points or 0.05% to 81,810.85. The Nifty 50 index lost 2.10 points or 0.02% to 24,706.30.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rallied 0.26% and the S&P BSE Small-Cap index rose 0.52%.

The market breadth was strong. On the BSE, 2,351 shares rose and 1,487 shares fell. A total of 138 shares were unchanged.

RBI Monetary Policy Meeting Outcome:

The Reserve Bank of India (RBI) monetary policy committee (MPC) has voted to keep the benchmark repo rate unchanged at 6.5% for the eleventh straight meeting.

After assessing the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (December 6, 2024) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50%.

Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25% and the marginal standing facility (MSF) rate and the Bank Rate at 6.75%.

To ease the potential liquidity stress, RBI has decided to reduce the cash reserve ratio (CRR) of all banks to 4.0% of net demand and time liabilities (NDTL) in two equal tranches of 25 bps each, with effect from the fortnight beginning December 14, 2024 and December 28, 2024. This reduction in the CRR would release primary liquidity of about Rs 1.16 lakh crore to the banking system.

The projected real GDP growth for 2024-25 is slashed to 6.6% from 7.2% earlier. The RBI has revised India's Consumer Price Inflation (CPI) forecast for financial year 2025 to 4.8% from 4.5% earlier.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.59% to 14.15. The Nifty 26 December 2024 futures were trading at 24,771.15, at a discount of 64.85 points as compared with the spot at 24,706.30.

The Nifty option chain for the 26 December 2024 expiry showed maximum Call OI of 107.4 lakh contracts at the 26,000 strike price. Maximum Put OI of 59.1 lakh contracts was seen at 24,700 strike price.

Buzzing Index:

The Nifty Consumer Durables index rose 1.11% to 42,196.05. The index jumped 5.04% in six consecutive trading sessions.

Blue Star (up 5.32%), Kalyan Jewellers India (up 2.98%), Century Plyboards (India) (up 2.85%), Titan Company (up 1.66%), Bata India (up 0.99%), Whirlpool of India (up 0.69%), Dixon Technologies (India) (up 0.58%), Amber Enterprises India (up 0.53%), Havells India (up 0.29%) and Rajesh Exports (up 0.29%) advanced.

On the other hand, Kajaria Ceramics (down 0.62%), Crompton Greaves Consumer Electricals (down 0.57%) and Voltas Ltd (down 0.19%) edged lower.

Stocks in Spotlight:

Kernex Microsystems (India) was locked in an upper circuit of 5% after the company announced that it has received an order worth Rs 2,041.40 crore from Chittaranjan Locomotive Works.

Zaggle Prepaid Ocean Services (Zaggle was locked in an upper circuit of 5% after the company announced that it has entered into an agreement with Hitachi India and Blink Commerce.

FSN E-Commerce Ventures (Nykaa) declined 1.52% after its chief executive officer (CEO) and senior management personnel, Nihir Parikh, tendered his resignation due to personal commitments.

Powered by Capital Market - Live News

Kernex Microsystems (India) has received a work order worth Rs 2,041.40 crore from Chittaranjan Locomotive Works for supply, installation, testing and commissioning of 2,500 sets onboard KAVACH equipment.

Powered by Capital Market - Live News

The project entails the supply, installation, testing, and commissioning of 2,500 sets of onboard KAVACH equipment.

The project is to be executed and delivered by 5 December 2025.

Kernex Microsystems (India) is engaged in the manufacture and sale of safety systems and software services for railways.

The company reported a consolidated net profit of Rs 6.85 crore in Q2 FY25 as compared to a net loss of Rs 4.41 crore recorded in Q2 FY24. Net sales zoomed to Rs 41.22 crore in Q2 FY25 from Rs 1.41 crore reported in Q2 FY24.

The Scrip hit an all-time high of Rs 524.90 in today’s intraday session.

Powered by Capital Market - Live News

Kernex Microsystem (India) has approved the grant of 43,000 Stock Options to the eligible employees of the Company, in terms of Kernex Employees Stock Options Scheme 2023 (KMIL ESOS 2023).

Powered by Capital Market - Live News