Kernex Microsystems (India) was locked in 5% upper circuit at Rs 44.45 at 13:28 IST on BSE after the company scheduled a board meeting to consider and approve proposal for sale/disposal of selected assets of the company.
The company made this announcement on Saturday, 7 March 2015.
Meanwhile, the BSE Sensex was down 497.17 points, or 1.69% to 28,951.78
On BSE, so far 11,726 shares were traded in the counter as against average daily volume of 18,175 shares in the past one quarter.
The stock hit a high of Rs 44.45 and a low of Rs 42.70 so far during the day. The stock had hit a 52-week high of Rs 80 on 3 June 2014 and a 52-week low of Rs 30.80 on 12 March 2014.
The small-cap company, which makes anti collision systems for railways has an equity capital of Rs 12.50 crore. Face value per share is Rs 10.
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Kernex Microsystems India said that a meeting of the board of directors of the company will be held on 10 March 2015, to consider and approve proposal for sale/disposal of selected assets of the company to finance new projects and to provide additional capital to ongoing projects.
Kernex Microsystems (India) reported net loss of Rs 3.67 crore in Q3 December 2014, higher than net loss of Rs 0.36 crore in Q3 December 2013. Net sales dropped 57.3% to Rs 3.91 crore in Q3 December 2014 over Q3 December 2013.
Kernex Microsystems (India) is engaged in the manufacture and sale of anti-collision systems for the railways.
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