Kernex Microsystems (India) was locked at 5% upper circuit at Rs 46 at 13:18 IST on BSE, extending yesterday's 5% rise triggered by the company's plan to sell some of its immovable properties.
Meanwhile, the BSE Sensex was up 248.90 points, or 0.89%, to 28,181.80.
On BSE, so far 5,623 shares were traded in the counter, compared with an average volume of 4,747 shares in the past one quarter.
The stock opened with an upward gap of 5% at Rs 46 and remained stuck at that level so far. The stock hit a 52-week high of Rs 71.20 on 4 December 2014. The stock hit a 52-week low of Rs 32.85 on 27 March 2015.
The stock had outperformed the market over the past one month till 14 July 2015, rising 8.41% compared with 5.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 9.35% as against Sensex's 3.83% fall.
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The small-cap company has equity capital of Rs 12.50 crore. Face value per share is Rs 10.
Kernex Microsystems (India) announced after market hours on Monday, 13 July 2015, that its board will meet on 15 July 2015, to consider selling some of the immovable properties of the company. The stock hit an upper circuit limit of 5% to Rs 43.85 yesterday, 14 July 2015.
However, the company announced after market hours yesterday, 14 July 2015, that the proposed board meeting to be held on 15 July 2015, was postponed.
The stock has risen 10.05% in the preceding two trading sessions from Rs 41.80 on Monday, 13 July 2015.
Kernex Microsystems (India) reported net loss of Rs 4.05 crore in Q4 March 2015, higher than net loss of Rs 0.56 crore in Q4 March 2014. Net sales dropped 11.7% to Rs 7.19 crore in Q4 March 2015 over Q4 March 2014.
Kernex Microsystems (India) is engaged in the manufacture and sale of anti-collision systems for the railways.
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