Equity Alert: Kernex seen up 3-4% on winning bid for $16 mln order
MUMBAI--9:40AM--Shares of Kernex Microsystems are seen up 3-4% on
news the
company has won a bid for a $16.05 mln contract from Egyptian National
Railways,
dealers said.
Trader accumulation of shares ahead of the development is seen
reining in
a sharper rise, dealers said.
Thursday, Kernex shares ended at 108 rupees, up 8.6% from previous
session.
The stock may open positive but selling pressure is seen at higher
levels,
they said.
"The counter has made a long-term base at 97 rupees and yesterday
(Thursday)
it saw a breakout. As of yesterday's pattern, the stock is having a
positive
bias, and if it continues to maintain 105-rupee level, then the next
near-term
target would be 125 rupees," said Birendrakumar Singh, technical
analyst,
Religare Securities.
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