Multibagger stock: Kernex Microsystems delivered over 100% return for 3 straight years
Also Read: Multibagger railway stocks IRFC, RVNL and 3 others fall up to 11.5%. Here's why The company's shares have shown a steady growth trend over the past four years, increasing from approximately ₹20.25 apiece to the current value of ₹629 apiece, resulting in a stunning return of 3006%. Remarkably, the stock has achieved multibagger returns in three of the last four years.
In CY21, it surged by 345%, followed by a 126% rally in CY22. Additionally, in the latest CY23, it concluded the year with a gain of 105%. As for the current year, it has seen an increase of 10.19% thus far.
On February 01, the stock reached an all-time high of ₹718 per share. Kernex Microsystems is engaged in the manufacturing and sale of safety systems and anti-collision devices for railways, along with software services. The company started developing railway safety systems in 1999 and successfully developed and demonstrated a prototype of ACDs to Konkan Railway Corporation Limited and members of the Railway Safety Board, as its website shows.
Also Read: BSE PSU index sinks 4%. Is the party over for these stocks? With the Government of India's thrust now being on modernising railways with large infrastructure spending and rail safety, the company is in a strong position to grab the opportunities. The safety measures taken in the last few years have yielded results.
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