Kejriwal said although the next government is likely to come out with orders for Kavach systems, ways will have to be found to boost their manufacturing.
This amidst the growing prominence of Kavach, an indigenous railway signalling system developed by Indian Railways in collaboration with local companies. The proposed acquisition involves the sale of a partial stake by Kernex Microsystems' promoters, granting the new management board control and majority ownership.
For the first nine months of the current financial year, PSBs have earned a cumulative profit of ₹98,358 crore as compared to ₹70,166 crore in the year-ago period, an increase of 40.17%.
The company expects to win around 25 percent of all Indian Railways tenders for Kavach systems; sees interim Budget giving thrust on capex for developing railway infrastructure.