Kernex Microsystems (India) Limited, a 1991-established railway safety provider, along with KERNEX-VRRC JV, secured a ₹21.03 crore LOA from South Central Railway. This project upgrades Kavach to Version 4.0 in the Sadashivpet Road-Parbhani section, enhancing railway safety. The work is due in 24 months. Kernex has a market capitalisation of over ₹1,700 crore and a ₹2,124.16 crore order book.