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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.
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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.