Kernex shares rise 5% to 1,104 rupees as JV acceptance awarded, Kavach orders hit 31.36bn.

• Consortium with KEC International receives 1.51 bn rupee acceptance, valuing the joint venture at a significant level overall
• Kernex holds a 70% stake in the joint venture, while KEC shares remain near 832 rupees
• Year‑to‑date performance shows KMIL down 15% and KECL sliding 30.5%, despite order growth in 2024