The Hindu Business Line : Kernex up on Rly order hopes

Kernex Microsystems, which makes railway safety equipment, primarily anti-collision devices (ACD) hit the 20 per cent upper circuit on Friday, on expected gains from the Railway Budget, dealers said.

On the BSE, the stock jumped Rs 44.35 to Rs 274.95, compared to the Thursday's close of Rs 230.60. Over 20.1 lakh shares were traded on the exchange, as compared to the two-week average of 2.97 lakh shares.

On the NSE, the stock flared up to hit the upper circuit of 20 per cent to Rs 273.85, compared to the previous close of Rs 229.80. Over 24 lakh shares were traded in the exchange. The company is expected to get big orders from Railways, which outsource safety equipments like ACD, the dealers said.

Gateway: Betting on corridor

Gateway Distriparks attracted huge buyers on Friday, after the Railway Budget proposed the setting up of a new freight corridor, dealers said. The company will will also benefit from the proposal by the Rail Minister to allow private players into rail container transportation business, they said.

The shares of Gateway Distriparks jumped by 7.34 per cent on the BSE to Rs 254.35, compared to the Thursday's close of Rs 236.95. Over 11.92 lakh shares were traded on the exchange, as compared to the two-week average of Rs 237.85. On the NSE, the shares shot up by 7.04 per cent to Rs 254.60. About 35 lakh shares were traded on the counter.

Kalindee Rail: Counting on links

Another counter that attracted attention on Rail Budget-linked news was Kalindee Rail Nirman Engineers Ltd. The company's shares rose about five per cent to Rs 148.55 on the BSE, as against the previous close of Rs 141.50. The company, which is into building rail tracks, will benefit from the expansion plans announced for Indian Railways, dealers said. About 40,000 shares changed hands on Friday on the exchange.

Rajesh Abraham

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