HBL Power and Kernex Microsystems saw their shares rise on November 28 due to an update from Railway Minister Ashwini Vaishnaw about the deployment of the 'Kavach' safety system.

Despite a downturn in the broader market, HBL Power's stock increased by 1.62% to close at Rs 626.4, while Kernex's shares reached an all-time high, reaching a 5% upper circuit at Rs 1,110.75.

Vaishnaw announced that the next phase of the Kavach implementation involves equipping 10,000 locomotives and inviting bids for trackside works covering approximately 15,000 route kilometers, with 9,000 RKm bids already opened.

The project aims to enhance safety across key sections of Indian Railways, with a total expenditure of Rs 1,547 crore to date and an allocation of Rs 1,112.57 crore for the fiscal year 2024-25.

Currently, three original equipment manufacturers (OEMs) are approved for supplying the Kavach system, with additional trials underway to expand capacity and implementation scale.